Just over BGN 2.5 billion from the Recovery and Resilience Plan will improve energy efficiency in the housing fund

Just over BGN 2.5 billion are the funds earmarked in the National Recovery and Resilience Plan for improving energy efficiency in the country's building stock, divided into three components - residential, public and industrial buildings.

This was announced by the Minister of Regional Development and Public Works Petya Avramova during a public discussion on the second pillar of the Plan - "Green Bulgaria".

The Regional Minister explained that the largest part of the resource - BGN 1.728 billion - is earmarked for financing energy-saving measures in multi-family and single-family housing.  Their renovation will be carried out in accordance with the objectives of the draft Long-term national strategy for the renovation of the national building stock until 2050. All municipalities in the country will be eligible and the idea is that the support should be equally distributed on the territory and synchronized with the regional policy and the instruments for its implementation. A methodology will be developed to take into account specificities and prioritise needs, identifying buildings with the greatest need for funding.  It will start with those that have been approved under the National Programme for Energy Efficiency of Multifamily Residential Buildings and the Operational Programme Regions in Growth but have not been financed so far.

The second component involves financing energy efficiency measures in public buildings - state and municipal - that are intended for administrative activities and for sports or cultural events.  Over BGN 417 million are the funds earmarked for this purpose, and the funding will be both grant and combined with financial instruments. Municipalities in partnership with building owners will be eligible. A methodology for prioritising buildings for energy renovation will also be developed here, Avramova said.

Eligible for intervention under the third component will be small, medium and large enterprises in the territory of the country.  The funding for energy efficiency improvement in them will be around BGN 282 million and will be a combination of grants and financial instruments.

Consultations were held with stakeholders in connection with the preparation of the programme, Avramova added. She stressed that the interest in the programme was extremely high, with participants in the discussions expressing support for the need for urgent measures and improving the energy efficiency of buildings.

The high levels of energy savings in the building stock that can be achieved through technical and engineering solutions to reduce electricity consumption will result in financial savings for owners, less electricity produced and fewer harmful emissions to the environment. The implementation of the programme will also have an economic effect for all participants in the investment process - designers, builders and suppliers of machinery, equipment, construction materials, consultants, the regional minister added.  Petya Avramova stressed that this component of the National Plan will be a powerful tool for economic growth.