Page 127 - bne IntelliNews Southeastern Europe Outlook 2025

US-sanctioned Gazprombank. A solution to this problem is yet to be found.
Meanwhile, the government has terminated the contract for expansion of the Chiren underground gas storage facility amid an ongoing investigation by the European Public Prosecutor's Office (EPPO). The EU granted €78mn to Bulgaria for the Chiren storage’s capacity expansion, as the project was seen as important for the country’s faster transition from coal to green energy. The project envisages the doubling of Chiren’s storage capacity, from 550mn to 1 bcm, enhancing gas withdrawal and injection capabilities.
Another possible major change in Bulgarian energy landscape would be the rumoured sale by Lukoil of its Bulgarian assets that include the largest refinery in the Balkans – Lukoil Neftochim Burgas – and a chain of filling stations. The company has been denying the rumours, although back in December 2023 the company said it wanted to sell its Bulgarian assets following a decision of the then government to ban imports of Russian crude oil as of March 2024.
In the renewable energy field, Bulgaria has called a tender for financing projects to build facilities for renewable energy storage, with the aim of increasing the share of wind and solar power generation in the country’s energy mix.
The projects are estimated to cost BGN1.2bn and will be funded under the country’s recovery and resilience plan. Bulgaria seeks to build energy storage facilities with a minimum total usable capacity of 3,000 MWh. They will be connected to the power transmission and distribution systems.
Under the programme, called RESTORE, Bulgaria will provide up to 50% of the eligible project costs to investors building renewable energy storage facilities.
By the deadline for submitting projects, the energy ministry has received 151 project proposals worth a total of nearly BGN5bn. Projects must be completed and operational by March 2026, but their progress will be reviewed in May 2025.
7.4 Energy & Power – Croatia
Electricity production in Croatia showed variability throughout the last year. In October 2024, production reached 1,350 GWh, an increase on 1,060 GWh in September.
The composition of electricity generation (figures as of August 2024) was diverse:
● Hydropower plants contributed 398 GWh (35.1% of total production).
● Thermal power plants generated 415 GWh (36.6%).
● Wind farms produced 160 GWh (14.1%).
● Solar power plants accounted for 91 GWh (8%).
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