EIB to Guide Bulgaria in Decarbonizing Maritsa East Complex and Transitioning to Clean Energy

EIB to Guide Bulgaria in Decarbonizing Maritsa East Complex and Transitioning to Clean Energy

(IN BRIEF) Bulgaria has enlisted the help of the European Investment Bank (EIB) to support the decarbonization of the Maritsa East Complex, one of Europe’s largest coal-powered electricity sites. The EIB will work with Bulgaria’s Ministry of Energy to develop renewable energy projects at the site, which accounts for 35% of the country’s electricity. The EIB will also assist in strengthening the Ministry’s project management capacity and expanding EU funding. This partnership is crucial for Bulgaria’s transition to clean energy, with the EIB providing its support through the European Commission’s InvestEU Advisory Hub.

(PRESS RELEASE) LUXEMBOURG, 6-Jun-2025 — /EuropaWire/ — Bulgaria has partnered with the European Investment Bank (EIB) to receive advisory services aimed at greening the Maritsa East Complex, one of Europe’s largest coal-fired electricity generation sites. The EIB will guide the Bulgarian government through the process of decarbonizing this critical facility, which accounts for up to 35% of the country’s electricity production. This partnership was formalized today with the signing of an agreement that outlines EIB’s role in supporting Bulgaria’s shift to renewable energy.

The EIB Advisory team will collaborate with Bulgaria’s Ministry of Energy to advance priority projects focused on renewable energy at the Maritsa East Complex, which also houses some of Europe’s largest open-pit coal mines. As part of its efforts, the EIB will help strengthen the Ministry’s capacity to manage complex projects while also expanding Bulgaria’s access to EU funding.

“Promoting social and economic cohesion is central to the EIB’s mission, and we are committed to supporting Bulgaria’s just transition from coal and carbon-intensive energy production,” said Kyriacos Kakouris, EIB Vice-President. “Our approach ensures that no community is left behind as Bulgaria shifts toward a sustainable, low-carbon economy.”

Reducing emissions at the Maritsa East Complex is a crucial component of Bulgaria’s clean energy goals, which align with broader EU climate objectives. As one of the largest sources of greenhouse gas emissions in the region, the transition of this complex is pivotal for both Bulgaria and the EU’s collective efforts to combat climate change.

Bulgarian Energy Minister Zhecho Stankov emphasized the importance of the decarbonization project for both economic competitiveness and the well-being of the population. “The decarbonization of Maritsa East Complex is key to its sustainable future. With the EIB’s expertise, we are confident that this collaboration will ensure the long-term viability of the complex, meeting the challenges of a greener future.”

The Ministry of Energy, in collaboration with EIB Advisory, has already made significant strides in creating a strategic plan for the transition. This includes a detailed assessment of the complex’s infrastructure, a roadmap for investors, and identifying high-impact projects that can drive Bulgaria’s decarbonization strategy forward.

The EIB’s advisory services are provided through the European Commission’s InvestEU Advisory Hub to support Bulgaria’s transition from coal to clean energy.

Background information  

About the EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. The EIB finances investments in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, the capital markets union and a stronger Europe in a more peaceful and prosperous world.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

In addition to financing, the EIB offers advisory services that help public and private partners develop and implement high-quality, investment-ready projects. In 2024 alone, EIB advisory teams helped mobilise over €200 billion of investments across Europe and beyond.

About the InvestEU Advisory Hub

The InvestEU programme provides the EU with long-term funding by leveraging substantial private and public funds in support of a sustainable recovery and growth. It helps mobilise private investments for the EU’s policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments, making funding for investment projects in Europe simpler, more efficient and more flexible.

The InvestEU Advisory Hub is the central entry point for project promoters and intermediaries seeking advisory support and technical assistance related to centrally managed EU investment funds. Managed by the European Commission and financed by the EU budget, the InvestEU Advisory Hub connects project promoters and intermediaries with advisory partners, who work directly together to help projects reach the financing stage.

EIB Advisory provides technical and financial expertise to support the development of sustainable and bankable projects in various sectors. In Bulgaria, EIB experts are assisting public authorities and businesses in preparing infrastructure investments in energy, energy efficiency, healthcare, transport and the environment, improving project planning and enhancing access to funding through tailored services and capacity building.

Media Contact:

Tsvetelia Tsolova
t.tsolova@ext.eib.org
+352 4379 – 70065

Press Office
press@eib.org
+352 43791

SOURCE: European Investment Bank