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BEERECL: Grants and Loans for the Commercial Sector in Bulgaria

Submitted by Baerbel Epp on March 4, 2009

Bulgarian Energy Efficiency and Renewable Energy Credit Line (BEERECL) for the commercial sector is extended a second time. BEERECL will receive an additional EUR 50 million between 2009 and 2011 to reduce Bulgaria’s energy intensity, which is reportedly two times higher than the average energy intensity for an EU country. So far the programme has not enjoyed a high popularity in the solar thermal sector. Only 4 solar thermal installations are among the 126 commercial projects that have already been financed since the start of BEERECL 2004 (status March 2009). According to latest information in January 2014 the programme will stop at the 28th of February 2014.

This story was written by Tatjana Tupy, project manager of the German consulting firm eclareon, which is focused on renewable energies, energy savings & energy efficiency sectors.



Country / region



Name of programme


Bulgarian Energy Efficiency and Renewable Energy Credit Line

Type of incentive


Combination of grants and loans

Eligible technologies


Technologies for the enhancement of industrial energy efficiency and small renewable energy projects, amongst others solar thermal systems

Applicable sectors


Commercial sector



Loans up to EUR 2.5 million for energy efficiency or renewable energy projects, Incentives can be 15 % for EE projects and up to 20 % for renewable energy projects.

Maximum incentive


There is a limit on the amount of the loan principal, on which the grant can be received. This limit differs among the participating banks as follows:       

Bulgarian Post Bank: EUR 750,000
DSK Bank: EUR 1,500,000        
United Bulgarian Bank: EUR 2,000,000      Piraeus Bank: EUR 2,000,000
Raiffeisenbank: EUR 2,000,000
Union Bank: EUR 500,000
UniCredit Bulbank: EUR 2,000,000

The cash incentive grants for solar thermal are limited to EUR 15,000 to 400,000 -depending on size of the loan 


Terms of loan


Different conditions at the various participating banks.

Payback time: 3.5 to 10 years

For further information contact the bank in question.

Requirements for system


Requirements for installation


an approved expert monitor the first 72 hours after start of operation.
Finance provider


Applications for BEREECL grants and loans can be made at any branch of the following  participating banks:

  • Bulgarian Postbank

  • DSK Bank

  • Raiffeisen Bank

  • UniCredit Bulbank

  • Unionbank

  • United Bulgarian Bank

  • Piraeus Bank

Total funds


  • 35.2 million EUR for grants

  • 105 million EUR for loans (31.1 million EUR still remaining, plus a further 50 million for the extension of the programme for the period 2009-2011)

The total funds include energy efficent measures and different renewable technologies. 

Funding source


  • Grants: Kozloduy International Decommissioning Support Fund (with contributions from the European Commission, EU member countries and Switzerland)

  • Loans: European Bank for Reconstruction and Development

Effective date


April 2004

Expiration date


28th February 2014
Statistical information

Solar thermal projects funded until October 2008: 2

Last review of this tabloid


November 2011

DAI Europe & EnCon Services Project Team 135
Georgi S. Rakovski Str., entr. 2, fl. 5
1000 Sofia

Dr. Ilya Iliev
Phone: +359/298 800 52


Effective Date: 
April 1, 2004