The government has granted an extra two months to verify investments in renewable energy under the Recovery and Resilience Plan. The cabinet extended the agreement between the Ministry of Energy and the European Bank for Reconstruction and Development until October 30, 2026. The decision was made at the government's regular meeting. Otherwise, the deadline would have expired on August 31, the government information service announced.

The agreement concerns support for monitoring and verifying investment in new capacity for producing electricity from renewable sources and for energy storage. The extension gives more time for monitoring and verifying the projects, which are financed under two procedures of the Recovery and Resilience Plan — BG-RRP-4.032 and BG-RRP-4.033.

The bank helps the ministry track the progress of the investment's implementation. It checks and verifies the projects. In addition, bank teams visit sites in person to see what has actually been completed on each one. This ensures quality control and lawful spending of the funds, the Council of Ministers' press office explained.

The change approved by the government affects only the term of the agreement — the subject, scope, financial conditions and obligations of both parties remain unchanged.

The cooperation between the ministry and the EBRD builds on the results of another agreement signed in 2023, under which the bank helped prepare and run the procedures for selecting project proposals. An annex to the agreement is due to be signed. It should allow the monitoring and verification activities for the investment to be completed successfully. According to the press office, this will also help achieve the goals of the investment under the National Recovery and Resilience Plan.