Solar Project Financing Program for Businesses

Editorial comment: the program is now closed!

A new program under the Recovery and Sustainability Plan will provide grants to finance solar power plants with a total budget of 200 000 000 BGN. The programme aims to meet the European Union’s goals for secure, sustainable, competitive and affordable energy. The Ministry of Innovation and Growth (MIG) has published the programme for public consultation until 12.01.2023. Here we provide a summary of the planned requirements and funding opportunities:

What projects are funded under the programme (cumulative criteria)?

  • Solar photovoltaic energy systems for self-consumption, without the possibility of sale/injection into the grid
  • Mandatory combination with batteries (electrical energy storage technologies and facilities) with a total minimum capacity to allow a power supply of at least 4 hours for at least 25% of the installed capacity of the PV system
  • Erection on roof and facade structures of buildings connected to the electricity grid or closed electricity distribution network, and/or on real estate attached to them, in urban areas.
  • Construction on a building and/or property owned by the applicant, and where this is not the case, the applicant must have a document establishing the right to build. The investment may not be carried out on a building/property which is used by the applicant through a lease or concession agreement
  • Maximum capacity of the installation – 1 MW, but not more than 2 times the capacity provided by the electricity distribution company
  • No relocation of the installation for five years from final payment
  • Implementation of the project within 18 months from the effective date of the financing contract

Who is eligible for funding under the programme?

  • Traders within the meaning of the Commercial Act or the Cooperatives Act, or be an equivalent person within the meaning of the legislation of a Member State of the European Economic Area
  • Registered no later than 31.12.2019
  • Size and capitalization criteria: Micro, Small and Medium Enterprises, Small Mid Cap Companies (up to 499 employees) and Mid Cap Companies (up to 1500 employees) are eligible for funding
  • Group/Sector membership criteria:
  • Industry Group in Sector B “Extractive Industries”, Sector C “Manufacturing”, Sector E “Water Supply; Sanitation, Waste Management and Reclamation” and Sector F “Construction” are financed.
  • Services’ group is financed in Sector G Trade; repair of motor vehicles and motorcycles, Sector H Transport, storage and post, Sector I Hotels and restaurants, Sector J Creation and distribution of information and creative products; telecommunications’, sector L ‘Real estate activities’, sector M ‘Professional activities and scientific research’, sector N ‘Administrative and support service activities’, sector P ‘Education’, sector Q ‘Human health and social work activities’, sector R ‘Culture, sport and entertainment’ and sector S ‘Other service activities’.
  • Enterprises in the ‘Agriculture, forestry and fishing’, ‘Electricity, heat and gaseous fuels production and distribution’, ‘Financial and insurance activities’ and part of the ‘Manufacturing’ (part of the ‘Manufacture of food products’ and ‘Manufacture of beverages’) sectors are not eligible.
  • With realised net sales revenue for the financial year 2021 for:
  • Micro-enterprise: ≥ BGN 80 000
  • Small enterprise: ≥ BGN 187 000
  • Medium-sized enterprise, Small mid-market company or Mid-market company: ≥ BGN 750 000
  • The investment must serve the applicant’s main economic activity, according to the Classification of Economic Activities – NACE Rev. 2.2008

How can we support you?

Thanks to our partnerships with consultants, designers and contractors, Sonnis Energy offers you a complete solution for your solar project with European funding. We offer:

  1. To inform you in due course of the date on which the funding programme will open for applications and of updates to the project selection methodology and criteria
  2. To check whether your company is eligible for funding under the scheme and assess your project’s chances of competing for funding
  3. Support you with the preparation of the application documents for funding
  4. Prepare an investment project, technical design and financial analysis
  5. To support you with the documentation drive for the construction of the photovoltaic system
  6. To ensure the complete construction of your photovoltaic system