ME: There are over 70 investment intentions from 32 companies for over BGN 11 billion for the Stara Zagora region

The transition to a low-carbon economy is a serious challenge for the coal regions, especially for Stara Zagora, where thousands of jobs and one of the largest energy capacities in the country are concentrated. The aim of this transition is to lead to a sustainable energy sector that stimulates growth, innovation and employment, combined with an improvement in the quality of life. In order for the transition to a low-carbon economy to be fair, large investments are needed in new, low-emission industries in the Stara Zagora region. To this end, the Ministry of Energy issued a call for expressions of interest for investment intentions from large enterprises to serve to substantiate the eligibility of large enterprises as a beneficiary of the Just Transition Fund. This is stated in a message of the Ministry of Energy of Bulgaria.

Within the set period (until 06.11.23), more than seventy investment intentions were received from thirty-two companies with a total value of about eleven billion BGN. They envisage the creation of over ten thousand new jobs and the preservation of over eleven thousand existing jobs.

The interest in the region on the part of Bulgarian and international companies, some of which still provide thousands of jobs, including in the Stara Zagora region, is extremely high.

Among those who have expressed interest are also large industrial companies with export-oriented production, anticipating investments in low-emission technologies with high added value. Also impressive is the intention of large employers in the region, including state and private energy companies, to invest in low-emission capacities, as well as in projects for new RES capacities in combination with energy storage systems and green hydrogen production.

We note that the stated intentions are indicative and after the approval of the Territorial Plan for a Just Transition of the Stara Zagora Region, the development of application procedures for assistance from the Just Transition Fund is pending. The stated indicative investment intentions many times exceed the planned funding from the Fund for a Just Transition and clearly demonstrate the industrial potential, attractiveness and perspective of the Stara Zagora region.

We remind you that all investments financed with funds from the Just Transition Fund will be selected as a result of open, transparent and competitive procedures open to all large enterprises.