EIB to Support Bulgaria’s Transition from Coal to Clean Energy at Maritsa East Complex
The European Investment Bank (EIB) has signed an agreement with the Bulgarian government to provide advisory support for the decarbonisation of the Maritsa East Complex, one of the largest coal-fired power generation sites in Europe and a provider of up to 35% of Bulgaria’s electricity.
Under the new partnership, EIB Advisory will collaborate closely with the Ministry of Energy to accelerate renewable energy deployment, manage complex projects, and unlock additional European Union funding for the transition.
Green Transition with Economic Cohesion
EIB Vice-President Kyriacos Kakouris, said, “Fostering economic and social cohesion is at the heart of the EIB’s mission and we stand ready to support a just transition for the Bulgarian regions most affected by the shift away from mining and carbon-intensive energy production and industrial activities.”
He added,“Our approach endeavours to ensure that no people or places are left behind in the transition to a low-carbon and climate-resilient economy and society.”
The Maritsa East Complex is home to some of Europe’s largest open-pit coal mines, and its transition is critical to reducing Bulgaria’s greenhouse gas emissions and meeting the EU’s climate objectives.
Also read: EIB and Iberdrola Sign €108M Green Loan to Boost Valdecañas Hydro Storage
Roadmap for Coal-to-Clean Transformation
Since early 2024, the Ministry of Energy, supported by EIB Advisory through the InvestEU Advisory Hub, has conducted a detailed assessment of the complex, including infrastructure audits and a strategic investor roadmap. These efforts have outlined high-impact projects and defined investment priorities for companies operating within the site.
