Blagoevgrad Municipality has received approval for a project under the EU City Facility to support the process of energy transformation of the local economy.

The article is republished from: Blagoevgrad.eu >>

(Source: BG FinEERGo-Dom One-stop-shop)

Blagoevgrad Municipality has received financial support under the EU City Facility (EUCF). Within its framework, only three projects for investment concepts from Bulgaria were approved, including that of Blagoevgrad Municipality. Its realization will reduce the regional dependence on imported natural gas, accelerate the decarbonization of the public and residential building stock, as well as the public transport by transitioning to non-polluting renewable energy sources. The residents of Blagoevgrad will also be able to benefit from the support of the local administration regarding the renovation of multifamily residential buildings as part of the Bulgarian Recovery and Resilience Plan. An information campaign is planned to increase citizens’ awareness of schemes for providing the required co-financing by apartment owners. The initiative is implemented in partnership with the H2020 funded European project FinEERGo-Dom, which replicates the experience of institutions from Poland and Latvia in Bulgaria.

The secured funding will assist Blagoevgrad Municipality in the process of structuring bankable investment proposals that can attract financing not only from national and European sources but also unlock private sector funding. Only by ensuring multiplicative financial effects can the levels of regional investments be achieved that will facilitate the energy transformation of the local economy. The investment concept will also develop a program for transitioning the municipal building stock to the use of renewable energy sources, as well as a techno-economic analysis of the financial benefits of integrating smart systems for active monitoring and optimization of energy consumption with the participation of building users.