Electricity Industry Profiles—Bulgaria
Bulgaria remains heavily dependent on coal (44.1% in 2015) and nuclear power (32.1% in 2015) for its electricity. Unlike most European countries, Bulgaria remains committed to nuclear, with plans for 2 new reactors backed by Russian investment. Bulgaria has exceeded its renewable energy target of 16%. It hit 18.2% in 2015 and managed 19.4% when only electricity is considered. This is mainly due to hydro power, but also due to a surge in renewable investment pre-2013. Attractive tariffs led to significant growth in the wind and solar markets in 2012. However, this situation has now been completely reversed with tariffs cut, meaning that Bulgaria’s renewable energy performance is unlikely to change significantly to 2020. In line with the common European Union (EU) targets, Bulgaria is aiming to reduce its gas emissions, a 50% decrease of energy intensity of GDP and a 16% share of renewable energy sources in total energy consumption, which it is bound by obligation.
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