Article

Bulgaria received a €55 million investment from Luxembourg to develop photovoltaic power plants and energy storage systems in Pernik, Kyustendil, and Stara Zagora by 2026. The project, funded entirely by Luxembourg under the EU's Financial Mechanism for Renewable Energy, aims to support coal-mining regions in the energy transition.

Bulgaria will provide land for the facilities while Luxembourg receives green energy certificates to meet its climate targets. The European Climate, Environment and Infrastructure Executive Agency will manage the funding process, which is part of a broader European cohesion policy to aid regions transitioning away from coal. Facilities must operate for at least 15 years to ensure long-term employment and energy security.