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Bulgaria signs with Kozloduy for 34.6 million euros grant

Staff writer |
Bulgaria has signed the agreements with the International Fund Kozloduy (IFC) for 34.6 million eurso grant for the modernization of energy sector.

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"The last grant agreements under the International Fund Kozloduy (IFC) will have a direct effect on the financing of the modernization of the key enterprises of Bulgarian energy and energy efficiency measures, which has not happened in years," said Minister of Economy and Energy Dragomir Stoynev at the signing ceremony of three documents from the non-nuclear window of the Fund.

Those three agreements plus other were negotiated by the 26th Assembly of donors in November 2013 and amount 34.6 million grant.

"With the implementation of projects per year will be saved about 240 thousand MWh energy and reduced CO2 emissions by about 96 tons", the minister added. According to him, the project will contribute the ensuring of stability of the energy system and promote energy savings in the municipalities. The households will be given the opportunity to use natural gas for heating homes, thus reducing energy costs.

Vince Nowak and executive director of Electricity System Operator (ESO) EAD Shishman Chaoushev signed a second agreement, which worth is 4.1 million euros. It is for the modernization and expansion of the system (SCADA/ EMS) for data collection, monitoring and management, and energy management systems to the Central Dispatch to ESO.

"The project will modernize the management of the Bulgarian energy system and will create opportunities to reduce its losses by more efficient use of capacity", said Stoynev. IFC allocated grant will be used to improve the dispatching activities and to ensure the security of supply for domestic and industrial users.

The third agreement is by the Program for energy efficiency in the public sector and is a beneficiary fund for energy efficiency and renewable energy sources at the Ministry of Economy and Energy (MEE). Vince Novak and Minister Dragomir Stoynev signed it.

"It provides 5 million investment grant from the IFC, which MEE will use to continue the active support to the municipalities in the implementation of measures in public buildings and to reduce their energy costs in order to make up for the slowdown of recent years" Minister stressed. The local authorities will be able to prepare , launch and conduct tenders for selection of private companies. They will finance and implement energy efficiency measures to be paid by future energy savings.

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