New financial incentives for biomass-based electricity generation

georgi.velev@klassa.bg


Bulgaria will focus on biomass-based electricity generation, explained yesterday Minister of Environment and Water (MEW), Nona Karadjova. According to her, our country has significant potential in electricity generation from wood waste and agricultural residue.

Investors in electricity generation from biomass, waste and sewage water will be granted extended deadlines for the preferential purchase of energy. This is stipulated in the new Renewable and Alternative Energy Sources and Biofuels Act which is to be discussed by MPs.

Some of the proposals stipulated in the new law are embarrassing for us since we cannot frivolously abandon the projects in the renewable energy sector, said the Ambassador of the Republic of Italy to Bulgaria, Stefano Benazzo. During the forum, the Italian company Italchimenti Group, which owns the enterprise Devnya Cement JSC, presented its new ''Kavarna 2'' wind farm.

The new financial incentives for biomass-based electricity generation are secured by additional funds under the European Recovery Programme (ERP), said yesterday Deputy Agriculture Minister, Svetla Boyanova. EU funds for the implementation of similar projects could also be granted under the Rural Development Programme but no great interest has been expressed in these.

The possibility of extending the deadline for the construction of the Belene NPP after June 1 has not been ruled out, announced Energy Minister, Traicho Traikov. He explained that, until that date, the HSBC Financial Adviser is expected to analyse the mutual economic expectations of Bulgaria and Russia. The competition for the selection of a new Executive Director of NEK (National Electric Company) should be announced today. The proposals for the election criteria for the new nominees were submitted on Monday evening. Insiders announced for Klassa daily that an agreement on the election of a new head of NEK will hardly be reached since it is likely that the incumbent NEK CEO, Mihail Andonov, will hold this office in the long term.

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