Chinese RES Investment projects in Bulgaria, risk of halt due to new gov green energy policy shift

, News Serbia Energy

Chinese business might quit investing in renewable energy in Bulgaria because of the Bulgarian government’s abrupt policy change on green energy, the Bulgarian-Chinese Chamber of Commerce and Industry declared in an open letter.

At present the planned Chinese investments in renewable energy projects in Bulgaria are estimated at roughly BGN 220 M.

Since 2012 Chinese company “Wiscom” has perfect a solar park near the Western Bulgarian town of Ihtiman.

Another Chinese company – “Astroenergy” – has announced plans to invest over BGN 100 M in in Bulgarian green energy projects, reported Mediapool.

Last week Bulgaria’s State Commission for Energy and Water Regulation (DKEVR) made a controversial decision to reduce the purchasing rates for electricity produced from renewable energy sources (RES).

The planned reduction is between 20 to 30% for wind power plants, and over 50%