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Renewable Energy in Bulgariа | 2022 edition

The 2022 edition of the Renewable Energy in Bulgariа report provides an analysis of the current state of play in the sector and the competitive landscape, a ranking of the most dynamic renewable energy companies in Bulgaria and an overview of financial opportunities for green energy projects at the national and EU level. We also looked at the Bulgarian electricity market and the applicable legal incentives for stimulating the production of energy from renewables.

In 2021, the sector’s operating revenue surged by 41%, compared with the modest increase of 5.8% recorded in 2020. Growth came on the back of the rise in electricity prices and the increasing demand for alternative energy. Total investments in long-term assets more than doubled, reaching a record-high of EUR 62 mln.

Germany and Italy are still the top sources of foreign investment in Bulgaria’s renewable energy sector with nearly one in three providers having a German or Italian parent company.

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Capacity Capital Funding Corporate Strategy Government Policy/Regulation Market share
Biomass/Biogas Electricity generation Energy storage Energy/Utilities Grid modernisation Hydrogen Hydropower Onshore wind Power & gas distribution Renewable Energy Solar Turbines/Power equipment

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This report is prepared in collaboration with Gugushev & Partners Law Office

Gugushev & Partners Law Office is a leading law firm in Bulgaria with significant expertise and experience in the field of energy with a focus on the renewable energy sector. The firm provides the full spectrum of legal services necessary for the successful development and exploitation of RES projects, making it the trusted legal adviser to some of the most significant projects developed in Bulgaria in the past decade.

Over the past sixteen years, Gugushev & Partners Law Office has established itself as one of the leading consultants also in the areas of corporate and commercial law, M&A, banking and finance, capital markets, dispute resolution, real estate and construction, tax and international tax planning, employment law, public procurement, intellectual property and data protection, technology and telecommunication among others. The expertise of the team is recognized by various international legal directories such as Chambers & Partners and Legal 500 and the firm is awarded twice as “Law Firm of the Year” for Bulgaria in 2015 and 2017.

Gugushev & Partners Law Office provides its Clients a high level of professionalism and innovative legal solutions, integrated with excellent customer service and a business-oriented approach. Through its partners from PONTES the CEE lawyers and Lexwork International, Gugushev & Partners Law Office offers prime integrated legal services in more than 120 metropolises in 45 jurisdictions worldwide.