(AGENPARL) – Thu 05 June 2025 PRESS RELEASE2025-230-EN
5 June 2025
Bulgaria to receive EIB support for decarbonising major site for coal-fired power production
EIB’s advisory services to work with Bulgarian government on greening coal-powered Maritsa East Complex
Goal is to promote clean energy at site where open-pit mines operate
EIB assistance to extend to Bulgarian efforts to boost EU funding
Bulgaria will receive advisory support from the European Investment Bank (EIB) for greening one of Europe’s largest sites for coal-fired electricity production – the Maritsa East Complex. Both sides today signed an agreement under which the EIB will advise the Bulgarian government as it pursues a plan to decarbonise the Maritsa East Complex, which generates up to 35% of the country’s electricity.
EIB Advisory will work with the Bulgarian Ministry of Energy to ensure the timely development of priority projects promoting renewable energy at the Maritsa East Complex, which has among the largest open-pit coal mines operating in Europe. EIB Advisory will also help to strengthen the Ministry’s capacity to manage complex projects and expand European Union funding.“Fostering economic and social cohesion is at the heart of the EIB’s mission and we stand ready to support a just transition for the Bulgarian regions most affected by the shift away from mining and carbon-intensive energy production and industrial activities,” said EIB Vice-President Kyriacos Kakouris. “Our approach endeavours to ensure that no people or places are left behind in the transition to a low-carbon and climate-resilient economy and society.”
The burning of coal to produce electricity is major source of the greenhouse gases that cause climate change and cutting emissions at Maritsa East Complex is key for the clean-economy goals of Bulgaria and the EU as a whole.
“Efforts to decarbonise the Maritsa East Complex are key to its sustainable development and to ensuring conditions for competitiveness and growth of the economy and the better well-being of Bulgarians,” said Bulgarian Energy Minister Zhecho Stankov. “We are happy that the government has the EIB as a partner in the process. It is an institution with many years of experience and proven expertise. I am confident that this cooperation will ensure the sustainable long-term operation of the Maritsa East Complex in line with the challenges of the green future.”
The Ministry of Energy, supported by EIB Advisory under a technical assistance accord signed in early 2024, has made substantial progress in defining a strategic pathway for the transition of the Maritsa East Complex.
The assistance included a comprehensive analysis of the state of the complex, an assessment of existing infrastructure and the development of an investor roadmap. These efforts clarified the scope of high-impact projects that can be implemented in the near term to drive Bulgaria’s decarbonisation strategy. Investment priorities by the companies operating in the Maritsa East Complex were also identified, refining the list of strategic projects contributing to the transition efforts.
The EIB provides its advisory support under the European Commission’s InvestEU Advisory Hub to help Bulgaria’s coal-to-clean energy transition.
Background information  
About the EIB  
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. The EIB finances investments in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, the capital markets union and a stronger Europe in a more peaceful and prosperous world.  
The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.    
In addition to financing, the EIB offers advisory services that help public and private partners develop and implement high-quality, investment-ready projects. In 2024 alone, EIB advisory teams helped mobilise over €200 billion of investments across Europe and beyond.
About the InvestEU Advisory Hub
The HYPERLINK “https://www.eif.org/InvestEU/index.htm” t “_blank”InvestEU programme provides the EU with long-term funding by leveraging substantial private and public funds in support of a sustainable recovery and growth. It helps mobilise private investments for the EU’s policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments, making funding for investment projects in Europe simpler, more efficient and more flexible.
The InvestEU Advisory Hub is the central entry point for project promoters and intermediaries seeking advisory support and technical assistance related to centrally managed EU investment funds. Managed by the European Commission and financed by the EU budget, the InvestEU Advisory Hub connects project promoters and intermediaries with advisory partners, who work directly together to help projects reach the financing stage.
EIB Advisory provides technical and financial expertise to support the development of sustainable and bankable projects in various sectors. In Bulgaria, EIB experts are assisting public authorities and businesses in preparing infrastructure investments in energy, energy efficiency, healthcare, transport and the environment, improving project planning and enhancing access to funding through tailored services and capacity building.
Press contacts
Ministry of Energy
Website http://www.me.government.bg