There have been several well attended renewable energy conferences in Bulgaria where EEI has made presentations about the need for comprehensive feasibility studies to enable financing.  The large numbers of people attending those conferences are an indication of the increasing interest in Bulgaria as a country to invest in.  

We have also published an article in Bulgarian journals repeating that theme.  Please see the attachment;  

• 2010

Bulgaria has been required to submit a renewable energy action plan to the EU, detailing how the country will meet its obligation of generating 16% of its electricity consumption by 2010.

That plan has been submitted, but without the environmental element which is not yet ready.  The action plan and associated discussion in-country indicates the following important features;

• There are two scenarios in the plan regarding electricity consumption forecasts.  One scenario assumes that the electricity consumption will grow as the economy develops, and the second scenario includes energy efficiency measures to improve the energy intensity in Bulgaria.  This second scenario shows very small growth in net electricity consumption.  We believe this almost flat profile is most realistic because the present energy efficiency in Bulgaria is very poor, and there is much room for improvement.
• There is a commitment to both Wind and PV power in that plan, and a recognition that the investment climate needs to be stabilised to attract investors. 
• The plan includes a substantial element of biomass power production and several measures to encourage that sector.  However, there are presently rather limited realistic  proposals for biomass power generation.  This suggests that the wind and PV contributions may need to be increased to meet the 2020 targets in the plan.
• The new law on renewable energy is vital because it will create a new mechanism for setting electricity tariffs.  The present draft of the new law is being reviewed again within the ministry and is subject to heavy criticism by industrial players.  We do not believe this law will be finalised before autumn 2010, which leaves the sector in an uncertain condition.  However, this also creates opportunity for new players to enter the market while the present developers are delayed.