The pathway towards the decarbonization of the Bulgarian economy starts with the quick phase-out of the lignite-fired power plants and goes through the transformation of the electricity sector, the development of new renewable energy technologies such as offshore wind and geothermal energy, as well as the accelerated electrification of buildings, industry and transport.
These are some of the main policy findings of the latest analysis of the Center for the Study of Democracy “Green recovery pathways to Bulgaria’s carbon neutrality by 2050” launched during an international conference on June 8, 2021.
The online discussion gathered high-level European and U.S representatives from various government institutions, the civil society and private sector including Atanas Pekanov, Deputy Prime Minister of Bulgaria, Nevena Gavalyugova, Policy Officer from the Directorate-General for Climate Action of the European Commission, Timon Wehnert, Head of the Berlin Office of Wuppertal Institute, Marcelo Masera, Head of the Energy Security, Distribution and Markets Unit at the Transport and Climate Directorate of the Joint Research Centre (JRC), and Angelina Galiteva, Chair of the California Independent System Operator and Founder and Board President at Renewables 100 Policy Institute.
The panelists agreed that the process of joining a Transatlantic Green Deal could be a key driver in accelerating the global energy transformation and attracting key investment in the region, making the EU a leader in green innovation and technology. In addition, Bulgaria’s investment priorities should be redirected away from large infrastructure projects and towards decentralized energy solutions, diversification of energy supply and the support for small and medium-sized enterprises, energy communities and ecopreneurs.