An integrated plan for the Maritsa-East complex will outline the transition to a carbon neutral economy in the region
The preparation of an integrated development plan for the Maritsa-East complex was one of the main themes of the seminar “Jobs and Energy in the transition from coal”, which took place in Sofia. The discussions were organised as part of the initiatives under the advisory services agreement under the Development and Investment Plan for the Maritsa-East complex between the Bulgarian Ministry of Energy and the European Investment Bank (EIB) signed in February 2024.
“It is crucial that the transition takes place in a way that makes use of existing assets and gives them new lives, preserves jobs and creates new quality ones. Thanks to our close co-operation with the EIB, we can successfully resolve this task,“ Krasimir Nenov, Deputy Energy Minister, said at the opening of the forum.
The event brought together representatives of the European Commission, the EIB, the ministries of energy, of finance and of regional development and public works, economists, scientists, energy experts, trade unionists, representatives of the Stara Zagora region.
In the words of Deputy Minister Nenov, the biggest challenge is to identify those economic activities that create quality employment and can be developed alongside existing assets. By preserving the expertise of the workforce of the complex and new upskilling opportunities, the plan for the complex should outline how to make full use of the skills of employees in the new green economy.
Support from financial institutions and open dialogue with all stakeholders are particularly important in this process, Krasimir Nenov stressed.
The establishment of the Maritsa-East transformation plan is part of Bulgaria's concerted efforts in line with the European Union's climate objectives and commitment to a carbon neutral economy by 2050. It will be a crucial step in the transition from fossil fuels to renewable energy sources and will reveal significant economic, environmental and social benefits for the region of Stara Zagora to ensure the employment of workers in the complex.
The EIB, together with external experts, is preparing a comprehensive analysis of the potential and competitive advantages of the industrial complex, one of the largest in South East Europe. These include the consolidated industrial areas, the developed electricity and transport infrastructure, the skilled workforce and the strategic location. The plan will serve to identify new economic activities and to draw up a roadmap for potential investors. In order to select the most suitable investments for the future of the complex, EIB consultants will also recommend a specific methodology for their selection, which will be ready in early 2025.
“We are in an unprecedented situation where Bulgaria has been given multiple sources of EU funding to achieve the objectives set under cohesion policy, namely the Just Transition Fund and the Green Deal. However, the available funding is time-bound and has specific rules to apply and should therefore be used as soon as possible.” This was announced to participants by Sofia Alves, Director of DG Regional and Urban Policy, the European Commission “To achieve this, Bulgaria must bring together all stakeholders around a shared vision for the transformation of its economy and coal-dependent regions,” Alves added.
“Green transformation is not only a challenge, but also a huge opportunity for coal-dependent regions. At the European Investment Bank, we are committed to helping Bulgaria turn this transition into a successful economic and social fair process that will provide a sustainable future for all,” said Teodor Radonov, Head of the EIB Group office in Bulgaria.
The transformation of the Maritsa East complex will include the conversion of unused land and airport into sites for new activities - renewable energy installations and other modern facilities that optimally harness the potential of the complex and serve as a catalyst for sustainable industrial growth of the whole region.
