The European Investment Bank (EIB) will provide advisory assistance to Natsionalna Elektricheska Kompania EAD (NEK), Bulgaria’s national electricity company, for the construction of two large pumped-storage hydropower plants.
The two new renewable energy projects will be situated at hydropower cascade dams and reservoirs near the towns of Batak and Dospat. Each power plant will have a generation capacity of 800 MW.
These will expand storage capacity and improve electricity supply in Bulgaria and the European Union. The estimated total cost of each plant is about €900 million. Furthermore, the plants are expected to become operational by 2032.
Under the agreement EIB Advisory will assess the technical feasibility and economic viability of the projects. This will allow NEK to make informed decisions crucial for the development of the two projects.
