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Investors Pour Billions of Euros into Bulgaria Energy Efficiency

Date: 25.05.2009

The investments in public-private projects for energy efficiency in Bulgaria will amount to BGN 9 B.

The data was reported by Bulgaria's Deputy Prime Minister and Foreign Minister, Ivaylo Kalfin, during the Bulgaria-US renewable energy forum, held Tuesday in Sofia.

Kalfin pointed out that in 2010 only, energy efficiency investments will reach at least EUR 500 M, adding that by 2020, 16 % of all energy produced in Bulgarian would come from renewable energy sources, approaching the European Union goal of 20 %.

The Deputy PM further said that many US companies entering the Bulgarian market work in the renewable energy sector.

The American Chamber of Commerce, on their part, noticed the increased interest from US small and medium businesses towards Bulgaria's economy, deemed by experts a very positive trend since in times of crisis this type of enterprises are more flexible and manage to remain on the market.

US Ambassador to Sofia, Nancy McEldowney, stated she sees Bulgaria becoming in the future the energy center of the Balkans. The Ambassador had some advice such as replacing the electric bulbs in each Bulgarian household with energy saving ones in order to preserve energy resources.

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