The Council of Ministers approved the GREENABLER Project of ESO EAD for financing with funds from the Modernization Fund
The GREENABLER Project of ESO EAD was approved by the Council of Ministers for financing with funds from the Modernization Fund.
Currently, Bulgaria has about EUR 265 million available for financing priority and non-priority projects. In order to meet the time frame for the inclusion of specific projects for approval by the Investment Committee in 2024, the Council of Ministers has approved a List of priority investments proposed for financing with funds from the Modernization Fund. At the next stage, other project proposals will be proposed.
The GREENABLER Project is divided into two main groups of activities. The first is for the reconstruction of 720 km of existing power lines for their transformation from a voltage level of 220 kV to 400 kV and synchronized reconstruction of the adjacent substations. The second group is for the reconstruction of "Hemus - Stara Planina" power line and its transformation from a voltage level of 220 kV to 400 kV, reconstructions of 888 km of 110 kV power lines and doubling of 92 km of 110 kV power lines in order to increase the transmission capacity of the network.
The total budget of the first group of activities is EUR 568 million from the Modernization Fund. In 2024, only the first stage, which has a budget of EUR 65 million, will be financed.
The total value of the GREENABLER Project is EUR 857 million. Investments for the first group in the amount of EUR 568 million have been proposed for financing in stages over 7 years from the Modernization Fund, and for the second group, which is in the amount of EUR 203 million - through the National Recovery and Resilience Plan, chapter RePowerEU. The rest of the financing is provided by ESO EAD.
The proposed investment is in support of the projects set out in the National Recovery and Resilience Plan for the commissioning of 4.5 GW of new RES, and with the implementation of the project, it will provide the necessary technical opportunity for their connection to the national grid.