Bulgaria has a potential for more than 40 GW of new wind farms but needs to address a number of governance deficiencies in order to unlock the huge investments in the wind power sector and accelerate the decarbonization of its economy, according to a report made by the Center for the Study of Democracy (CSD).
An ambitious objective to fully decarbonize the European economy is facing strong headwinds from ongoing energy price volatility, supply deficits on the electricity and gas markets, and bottlenecks in accelerating renewable energy investments that are the backbone of the REPowerEU plan.
The country’s huge onshore and offshore wind energy potential remains unutilized for electricity generation due to legal and regulatory inconsistencies, difficult grid access, opposition from local communities, environmental conflicts and, on the whole, a weak political commitment to speed up the investment process.
