SOFIA, May 4, 2023 – The World Bank will provide analytical and advisory support to the Bulgarian Ministry of Energy to make the most of the country’s geothermal natural assets. An agreement for the provision of Reimbursable Advisory Services for Geothermal Energy for Energy Security in Bulgaria was signed today by Lasse Melgaard, World Bank Resident Representative for Bulgaria, Czechia, and Slovakia and Rosen Hristov, Minister of Energy of the Republic of Bulgaria.
Over the next 24 months the World Bank will provide knowledge and ideas about best practices for the management of geothermal energy resources in the country. The World Bank team will provide analysis, technical input and recommendations for the establishment and operation of geothermal laboratories and geothermal centers of excellence, including in academia. As part of the partnership, the World Bank will support the Ministry in the identification of sites with good prospects for the utilization of geothermal energy, including for heating and cooling and potential electricity generation. As part of the overall assessment of existing geothermal resources in the country, the World Bank will also advise on good practices for carrying out environmental and social assessments.
Various studies show that Bulgaria is rich in geothermal sites with at least 840 water sources that have temperatures of up to 103 Celsius. In addition, there are 136 mineral springs with temperatures ranging between 20C and 101.4 C with various water flow characteristics. However, more data is needed to assess the country’s geothermal potential.
“Clean energy is vital to reducing greenhouse gas emissions and the negative environmental effects that come with fossil fuels, and it is critical to help the world combat climate change. As a renewable resource, geothermal energy can play an important role in both ensuring clean energy for Europe and helping Bulgaria’s efforts to ensure energy security for the benefit of its citizens. We are delighted our ongoing partnership will support Bulgaria to sustainably utilize its natural resources for a cleaner energy future.”, said Lasse Melgaard, World Bank’s Resident Representative for Bulgaria, Czechia, and Slovakia.
Today’s contract is the first one under the new Framework Agreement for Reimbursable Advisory Services, signed with the Government of Bulgaria last year and designed to provide knowledge support for the 2021 – 2027 EU-programming period.
The Reimbursable Advisory Services are a special instrument of the World Bank offered in middle- and high-income countries. Under these programs, the World Bank works with countries at their request, providing advisory services, analytical services, and implementation support. The Bank is then reimbursed for the costs of delivering these advisory services.