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BULGARIA'S POTENTIAL FOR ALTERNATIVE ENERGY PRODUCTION HIGH- MINISTER

Mon, Feb 26 2007 09:04 CET 380 Views

Bulgaria has significant potential for the development and use of renewable energy sources and bio-fuels, Deputy Economy and Energy Minister Valentin Ivanov said.

A law regulating the utilisation of such energy sources was currently being drafted, Ivanov said.

Switching to alternative energy sources might necessitate a change in some of the agricultural products currently cultivated, Ivanov said as quoted by Darik Radio.

It is possible for tobacco producers to lose some of the subsidies they receive in the coming year, so that the money could be used for the development of renewable energy sources and bio-fuel, Ivanov said.

Foreign investors also showed interest in solar energy projects to be carried out in Bulgaria.

Ivanov presented various European programmes, mainly focused on competitiveness. Bulgaria will receive up to 1.2 billion euro from 2007 to 2013.

Smaller and medium-sized companies will benefit the most from EU funds, Ivanov said. Criteria for the selection of projects have not been approved yet, he said.

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