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Bulgaria to Stimulate Investment in Renewable Energy Sources

Date: 18.12.2006

A new law examined on December 14 will simulate the usage of and investment in renewable energy sources, alternative and bio-fuels.

Higher investment in renewable energy sources was going to decrease Bulgaria's dependence on the purchase of primary energy resources. It is also expected to increase the competitiveness of Bulgaria's economy and to open new work places.

Bulgaria will also be able to deal with resource depletion and pollution, a Council of Ministers press release said.

The draft law introduces for the first time a mechanism for encouraging electricity production through the use of alternative energy sources.

Usage of bio-fuels in the transport sector is also to be stimulated.

In the end of November, the Cabinet approved a long-term programme for the encouragement of the use of renewable energy resources. The programme is to be carried out until 2015.

By 2010 renewable energy sources will be used for eight per cent of the national electricity production. EU has a requirement of 11 per cent electricity production through alternative means.

 

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