Renewable Energy Industry in Southeast Europe Report By SeeNext

SeeNext are happy to announce that their first regional report for 2024 is out today.

Download your free copy of the Renewable Energy Industry in Southeast Europe report by SeeNext here.

Southeast Europe (SEE) has made significant progress in greening the power supply in recent years. Many countries in the region are now poised for unprecedented growth in installed capacity. With this comes the next major challenge – how to balance supply and demand, and how to advance the installation of new parks while guaranteeing the stability of grid infrastructure.

Bulgaria, Croatia, Greece, Romania, Serbia and Slovenia seem to have recognised that the deployment of energy storage capacity and grid modernisation are the next crucial steps supporting SEE’s transition to net zero. But the actual progress and the level of ambition across the region vary greatly from country to country.

The 2024 edition of the Renewable Energy Industry in Southeast Europe report by SeeNext, supported by Renewables Now, is focused on the new challenges and the tried-and-tested solutions. 

Check out the report and gain insights into:

• the diverse strategies adopted by Southeast European countries
• the energy storage projects shaping the region’s green energy future
• the progress of and obstacles to grid infrastructure upgrades

We are happy to share a collaboration between two BBBA members – Danco Industry and Ligna!

Their real estate project “Six Atrium Houses” – located in Dragalevtsi, Sofia. 

The project is to rent only. It consists of six townhouses – for six families. 

Each house is:

– in the range of 200 m2,

– with 3 parking spaces at the underground level,

– on ground level – living room & garden (on the south),

– on upper level – bedrooms,

– fully furnished (except beds),

– according to the highest standards of building.

You can see more information about the houses Here.

BESCO, along with the American University in Bulgaria, is launching the Advocacy Academy, a pilot course scheduled to take place from April to June 2024 in Sofia.

The application link can be found HERE, with applications being accepted until February 29th.

The pilot program will include:

• Representatives from business organizations/associations
• Civil society
• Institutional representatives

Their aim with this program is to share the expertise they have accumulated specifically in advocacy and the fight for legislative and institutional change. They believe that for a well-functioning state, it is crucial for more individuals and organizations to understand how this process works, thus enabling our institutions to perform more effectively.

The working language is English, with sessions comprising 8 modules covering topics such as:

• Advocacy in Bulgaria and the EU: key concepts and definitions of lobbying and Advocacy
• The business case of Advocacy
• Public Policy Development in a multi-level governance system
• The art of public policy advocacy: how to engage institutional and non institutional stakeholders at EU and the national level?
• Advocacy Strategies: Setting the stage
• Advocacy Strategies: Position
• Evaluating Advocacy Strategies
• Recap session – lessons learned

Some of the instructors in the program are:

• Jean Crombois
• Katia Hristova-Valtcheva
• Razvan Orasanu
• Tijana Stojanovic
• Radu Colonescu
• Petar Georgiev

The participation fee is 250 BGN.

For the first course, 25 participants will be approved.

For more information Here.

We are still overwhelmed with the positive emotions from our Anniversary 009 which was held on 22 February. We are so thankful for all of you that joined the celebration. Looking forward to another successful year together ahead!  We also had the pleasure to welcome Nikolay Denkov, Prime Minister, who did a short welcome note highlighting the close relations between Bulgaria and the UK. We also welcomed Julian Popov, Minister of environment and waters, Krasimir Nenov, Deputy Minister of energy, Nikolay Pavlov, Deputy minister of economy and H.E. Liz Chapman, Deputy Ambassador. 
You can find pictures from the photo booth HERE. You can find more pictures HERE. 
Special thanks to our Exclusive Sponsor BAT and our Gold Sponsor Danco Industry. 
We would like to express our gratitude to our Drinks partner Jameson who prepared special cocktails for our guests and our Wine partner Georgievi Bros. Thanks to Talar Foods for the showcasing delicious snack station of Kenar products. 
We would like to thank Enjoy My Food for the amazing James Bond cake. Shout out to Dj Marten for taking care of the great mood of all guests. 
We would like to thank City Stage for being our generous host.
Last but not least we would like to thank our members for making BBBA the great association it is!
If you are not a member, but would like to learn more about the benefits of joining, please contact Dobri Stoev, Members and Partners Coordinator, or fill in the application form here.
Exclusive Sponsor: 
Gold Sponsor:       
Food and Drinks Partner: 

A symbolic groundbreaking ceremony marked the beginning of the construction of the second phase of the River Park residential complex, which includes the construction of a new alley with 42 houses. For their construction, the investor “Real Estate Developments” entrusted BS Konstructia – a company with many years of experience in the field of construction and its management. Due to the increased interest in the complex, currently more than half of the houses on Alley 5 have been sold. During the first phase of River Park, 110 homes were built and now have their owners.


Homes from Alley 5 offer prospective new-home buyers a choice of 37 row haouses, 2 twin houses and 3 single houses, each with unique features and advantages.The area of the row houses – between 207 m2 and 215 m2, includes a spacious and bright ground floor with a living room, kitchen, dining room, guest toilet, technical room, as well as a floor with three bedrooms, one of which with a walk-in closet, 2 bathrooms and a storage room. The yard space will vary from 60 m2 to 245 m2.


The twin houses will have a built-up area of 238 m2, as well as 4 bedrooms and two parking spaces. For the first time, single houses will be offered as well. They are three in number and each of them has 488 m2 of living space. The size of the individual green areas is also larger – from 500 to 1000 m2. Detached houses are ideal for larger families, or for those looking for privacy and a sense of space.


”Today we mark an important milestone in the development of River Park with the groundbreaking ceremony of the second phase. Our goal is to create not just a beautiful residential complex, but a dynamic community of successful people. We are proud to see the realization of this project and we are confident that River Park will continue to be a symbol of quality and comfort in the residential sphere,” said Ori Niv, CEO of Real Estate Developments.


”I thank the investor “Real Estate Developments” for the trust. It is an honor for BS Konstructia to be involved in the realization of this project. The high standards involved in the construction of such a luxury residential complex are a challenge for any builder. We believe that the experience that our company has accumulated, the expertise of our engineering and technical staff and the good interaction with the employer, the project manager and the architecture team, will allow us to cope with this challenge. We are convinced that the result of our work will be a beautiful and sustainable living environment that we will be proud of,” said Georgi Kaloyanov, Deputy Executive Director,


River Park is located at the foot of Vitosha at an altitude of over 695 m above sea level in Simeonovo, in the immediate vicinity of the “Vitosha” nature park and the station of Simeonovo lift. The houses in the complex are as far apart as possible and the rooms in them are spacious. River Park aims to provide residents with the opportunity to enjoy nature without depriving themselves of the amenities of the city.


A mountain stream runs within the boundaries of River Park, and residents will have more than 100,000 square meters of green space at their disposal. Only 15% of the land is intended for construction, the complex offers its residents outdoor sports facilities, walking paths, dog walking areas, picnic and recreation areas, etc. Their integration into the entire infrastructure creates a beautiful and sustainable living environment. In harmony with the natural forest of Vitosha, more than 3,000 trees of various species are planted – oak, pine, ash, birch and hornbeam, which create a smooth transition between the city and the mountain.

Regus offers 10% off on Meetings & Day offices for BBBA members!

Book Now 

This special offer gives you the opportunity to relax away from the city noise and experience the newest addition Hyatt Regency Pravets Resort.

You can find the full information regarding the terms and prices attached in the file below.

The prestigious Chambers & Partners Global Guide has ranked Borislav Boyanov as a Senior Statesperson, and Yordan Naydenov and Kina Chuturkova as Band 1, highlighting their significant contributions and leadership in the legal field.

Managing Partner Borislav Boyanov, honored as a Senior Statesperson for 24 consecutive years, is celebrated for his vast experience and profound knowledge in corporate and commercial matters, including mergers and acquisitions, foreign investments, and privatisations.

Yordan Naydenov, the Head of Corporate/Commercial at BOYANOV & Co., has been ranked in Band 1, reflecting his top-tier legal acumen. He is renowned for his adept handling of a wide array of matters, including M&A, market entry and exit strategies, and his ability to serve clients across various sectors.

Kina Chuturkova, Head of the Dispute Resolution practice, has also been awarded Band 1 ranking. Her expertise spans a broad spectrum of contentious matters, with a particular emphasis on high-stakes commercial and contractual disputes, as well as high-profile insolvency and consumer protection cases. Her exceptional legal skills are complemented by her invaluable experience as a former Supreme Court judge.

Chambers and Partners, an independent research company, spans over 200 jurisdictions to provide comprehensive rankings and insights into the foremost legal professionals globally. For a complete profile of BOYANOV & Co., please click here.

On the 20th February BEX – Bulgarian Expansion Bridge, a non-profit accelerator, unveils the findings of the First International Expansion Sentiment Report, offering valuable insights into Bulgarian technology companies’ readiness and confidence in pursuing global growth opportunities.

The report, based on a research completed at the beginning of 2024, sheds light on the strategic direction and outlook of Bulgarian businesses as they navigate the complexities of international markets. Key highlights include:

High Confidence: Over 80% of Bulgarian companies express confidence in their ability to expand internationally, underscoring a strong belief in their preparedness for global expansion.

Size Matters: Mid-size companies, particularly those with revenues between 1 to 10 million BGN, demonstrate the highest levels of confidence in their expansion prospects.

Global Engagement: Bulgarian companies are already actively engaged in international markets, with a significant presence across various regions, notably within the European Union.

Investment Focus: Sales and marketing enhancements emerge as top priorities for Bulgarian companies looking to bolster their expansion efforts.

UK Focus: The United Kingdom emerges as the primary target market for Bulgarian companies, reflecting a strategic focus on key Western economies.

In response to the report’s findings, BEX’s CEO, Georgios Kolovos, reflects:

“The International Expansion Sentiment Report highlights the remarkable optimism and ambition of Bulgarian technology companies as they embark on their global expansion journey. It is inspiring to see such confidence in their ability to thrive on the international stage. As businesses continue to navigate the evolving global landscape, we at BEX will continue to offer the support for unlocking new opportunities for growth and success.”

The International Expansion Sentiment Report serves as a valuable resource for businesses, policymakers, and stakeholders seeking to understand and support Bulgarian companies’ international expansion endeavors.

For media inquiries, please contact hello@bexbridge.com.

See the whole report in the file below.

Alasdair Ross, Countries Editor, “The World ahead 2024”

Alasdair Ross, The Economist’s countries editor, set the tone for the conference by presenting The Economist’s forecast for 2024. Projections indicate a global growth rate of approximately 2.2%, a significant improvement from the previous year, driven largely by the Asia-Pacific region. Growth dynamics are shifting from China to India, while Eastern Europe is poised for better growth than Western Europe, with countries like Germany and France to edge toward recession. Bulgaria stands out at the top end of forecasts for Eastern Europe.

In the United States, the outcome of the upcoming elections is already being priced in. The forecast suggests favourable chances for president Biden, with an improving economy and job market working in his favour.

Turning to European elections, projections anticipate political extremes on both the right and left to gain ground, collectively securing about one-fifth of the vote. However, the landscape is expected to be fragmented, ensuring that the centre-left and centre-right maintain control. Ursula Von der Leyen is likely to be reelected, but will be more beholden to parties on the far right.

In China, President Xi Jinping faces the challenge of delivering on citizens’ growth expectations, while the wider geopolitical landscape, shaped by conflicts in Gaza, Israel, and Ukraine, will drive public opinion in diverse directions. A frozen conflict is anticipated to persist in Ukraine, with no immediate resolution in sight. In Gaza, Israel is projected to prevail militarily, Alasdair Ross noted concluding his presentation.

Rumen Radev, president of Bulgaria

President of Bulgaria Rumen Radev discussed how projections of the country’s economic growth will materialise, stressing its increasing industrialisation and commitment to environmental sustainability. Corporate social responsibility and investments in human capital were highlighted as key components of Bulgaria’s development, and play a role in its businesses’ flexibility and adaptability. Foreign investments totaled 1.5 billion last year, but challenges persist, including demographic imbalances and the need for a long-term energy strategy, he said. Rumen Radev mentioned that the country is lagging behind European integration and convergence and urged efforts to improve rankings in certain indices, such as the media freedom index, to attract more and better investments from inside and outside the country. The president also emphasised the need for high-quality institutions and to leverage Bulgaria’s competitive advantages, while outlining plans to remove bureaucratic hurdles in energy interconnections with neighbouring countries like Greece. Addressing foreign policy, president Radev expressed the opinion that Bulgaria can support negotiations and diplomatic efforts in the context of Russia’s war against Ukraine.

Mariya Gabriel, deputy prime minister and minister of foreign affairs of Bulgaria

The country’s priorities for 2024 with an emphasis on dialogue and continuity were outlined by Mariya Gabriel, Bulgaria’s Deputy Prime Minister and Minister of Foreign Affairs. Bulgaria aims to maintain its role as a reliable regional partner and is committed to ensuring political stability, she said, and affirmed her government’s intention to continue its support for Ukraine, mentioning that joining the Schengen is a key step toward enhancing security and sustainability within the Schengen space. The deputy prime minister also emphasised the importance of innovation in Bulgaria’s strategic relations with the United States and Europe and advocated for supporting high-performing regional companies. Innovation is a key topic, and Bulgaria should seek partnerships with countries that share strategic interests, including in the Middle East and Africa, she noted. Bulgaria should develop its own foreign policy strategy, a result of public consensus, shaping the nation’s identity not just for 2024 but over the next decade. Mariya Gabriel was optimistic that Bulgaria can join the euro area by the end of 2024 and called for building Bulgaria’s image abroad through strategic cooperation and dialogue. Bulgaria’s ruling coalition can be kept together by working on common priorities and projects, including Schengen membership and joining the euro area by the end of the year, as well as supporting Ukraine, she said.

Vassil Terziev, mayor of Sofia

The pivotal role of technology and AI in shaping the city’s future was highlighted by Mayor of Sofia Vassil Terziev. Sofia is actively exploring the implementation of AI in waste and water management, sustainability, urban mobility, and security, requiring substantial investments to transition into a smart city, he explained. Prioritising technology, the city aims to leverage citizens’ feedback to enhance services, engage in decision-making, and address urban challenges. Vassil Terziev emphasised the need to lift administrative barriers for businesses and advocated for investments in education to enhance technological literacy. Responding to a question about the low presence of digital nomads, the mayor noted the untold success story of Sofia’s strong fundamentals and thriving startup ecosystem. Regarding equality, the focus is on improving public transport to reduce car usage, aligning with the city’s commitment to sustainable urban development.

Saša Marković, general manager, Coca-Cola HBC Bulgaria

Saša Marković, general manager of Coca-Cola HBC Bulgaria, focused on his company’s commitment to sustainability. Coca-Cola’s focus is on solutions aligned with green goals, targeting a significant reduction in emissions across the supply chain by 2040 and aiming to collect and recycle all packaging globally by 2030. Despite a decrease in absolute emissions, global carbon emissions have risen, he noted. Nevertheless, the company has already invested 17 million leva in the green transition of its Bulgarian operations, with plans to double this investment in the coming year. Mr Marković outlined local achievements, including a 30% reduction in direct carbon emissions and both plants operating with 100% green electricity consumption since 2023.

Demian Pintos, general manager, Philipp Morris Bulgaria

Demian Pintos, general manager of Philip Morris Bulgaria, referred to a need to recognise and attract Bulgarian talent from abroad who are eager to repatriate. Focusing on sustainability, the company’s primary goal is to transition people away from cigarettes, with alternative solutions provided for those who do not wish to quit entirely. Demian Pintos highlighted that over 28 million users globally are currently using their main smoke-free alternative and nearly 21 million from them have switched to it and have stopped smoking completely. Sustainability is embedded in every aspect of the business, evident in their collaboration with a startup to address cigarette butt littering in the city, he said. Responding to a question about vape litter, Mr Pintos clarified that Philip Morris Bulgaria does not currently have a vape business in the country. To address environmental concerns, he stressed the importance of adopting circular product principles, using reusable and recyclable materials, and encouraging long-lasting product designs. There is a need for partnerships with the government and industry to expedite these initiatives, he noted.

Tsvetanka Mintcheva, CEO and chairperson of the management board, UniCredit Bulbank

Tsvetanka Mintcheva, CEO and chairperson of the management board at UniCredit Bulbank, talked about the pivotal role of banks in driving sustainable development, outlining several reasons why banks and the financial sector are crucial for sustainable development. The role of banks now extends beyond financing, requiring an understanding of customers’ businesses to advise on transitioning to a green economy, she said. Banks excel in risk management, and failure to comply with the EU’s transition plan could lead to significant financial, legal and reputational risks for them, according to Ms Mintcheva. Banks are also adept at managing data, which is important to prevent greenwashing, and they play an additional vital role in providing employment and supporting vulnerable groups through initiatives like educational schemes, she highlighted – among others.

Jesus Caballero, CEO, Sofia Airport

Jesus Caballero, CEO of Sofia Airport, outlined the company’s ambitious project aimed at decarbonising the airport by 2036, which is financially supported by UniCredit and other banks and reflects a substantial investment of almost 70 million euros. The initiatives include the installation of solar panels, transitioning to electric vehicles, and adopting digitalisation measures, positioning Sofia Airport among the top 10 in Europe for emissions reduction. Jesus Caballero also emphasised the airport’s initiatives in terms of talent development and retention, for example through their collaboration with the Technical University of Sofia and by organising job fairs. In the realm of technology, the airport is deploying AI in its security operations and using chatbots to enhance customer service, he mentioned.

Galya Dimitrova, managing partner, IRIS Solutions

Galya Dimitrova, managing partner of IRIS Solutions, highlighted the transformative impact of the open banking directive PSD-2 in the EU. Galya Dimitrova pointed out the growing trend of open banking in Europe, particularly with the new rule mandating instant euro payments by 2025, which is expected to drive increased adoption. With over 90 million open banking users projected in 2024, the focus has shifted to enhancing financial and digital literacy and introducing these services into the public sector. In response to a question about AI challenges, Ms Dimitrova noted that open banking gives data ownership back to the people to manage and share as they wish.

Michail Petrov, CEO, Schwarz IT Bulgaria

Michail Petrov, CEO of Schwarz IT Bulgaria, referred to debates about AI at the Davos Economic Forum, highlighting the significant increase in AI capacity and parameters used, resulting in a global chip shortage and some countries restricting sales of semiconductors. Stakeholders at Davos unanimously viewed AI as the new steam engine, providing a competitive advantage for those who integrate it more effectively into their systems, he said. While Michail Petrov acknowledged the potential for AI misuse, such as through deep fakes or vote manipulation, he said the opportunities offered by AI far outweigh the potential damages.

Sofiya Kalinova, barrister-at-law, Ireland, board director, Irish Deaf Society, member, EUD’s Deaf Lawyers Group

Sofiya Kalinova, barrister-at-law in Ireland and board director of the Irish Deaf Society, shared her journey as a deaf individual pursuing a legal career. Facing discrimination in Bulgaria due to a hearing component in the exam, she successfully defended her right to take the test. In Ireland, government-funded programmes allowed deaf individuals to study freely, and she was eventually able to pass her exams in sign language. Sofiya Kalinova highlighted the need for more inclusive policies, citing limitations in Bulgarian law for sign language interpretation, as well as the importance of investing in education, early programmes for sign language use, and creating an inclusive job market for everyone, including people with disabilities.