Renewables will then have to account for 16 percent of final consumption of energy by 2020. The Bulgarian government has stated that this proposal was parallel to European targets and laws pertaining to renewable energy use.
Bulgarian Energy Minister Traicho Traikov has also stated that construction has begun on a 45 megawatt solar farm in central Bulgaria. The farm, located near the city of Veliko Tarnovo, totals to approximately 150 million euros in cost. The solar farm would officially be the largest in the country. The construction will be undertaken by South Korean solar company, SND.