10/20/2010

Bulgaria needs EUR 3bn - 4bn investments in green energy to meet targets


Bulgaria will need to invest EUR 3 billion- 4 billion in renewable energy capacity to achieve its target of 16% clean power in the country's energy mix by 2020, said Kenneth Lefkowitz, Chairman of the Supervisory Board of the Bulgarian Wind Energy Association at a green conference on Monday, Dnevnik reported.

If the country fails to build the required capacity it will need to buy expensive energy from those which produce more than the mandatory targets, Lefkowitz added. Currently, the premium Bulgarian households pay for clean energy adds to their electricity bills BGN 4 per year. A failure to meet an interim target by 1% will burden households with BGN 160 a year, while by 2020 the amount could swell to BGN 500 - 600, according to the calculations of the association. The green target of 10% for 2010 will be achieved mainly thanks to the large hydropower plants in the country, according to government estimates.

 

Sources: www.dnevnik.bg, www.amcham.bg

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