Former coal mine sites have been transformed into a UNESCO World Heritage site in Essen and a solar park in northern Macedonia, showcasing how industrial areas can be reborn as lively cultural and sustainable energy centres. These transformations create economic opportunities and preserve historical heritage, proving that the past can power a brighter future.
In Bulgaria, the Maritsa East mines are among the largest open-pit coal mines still operating in Europe. The Ministry of Energy in Bulgaria has developed Just Transition plans to transform these mines and meet national and European Union energy goals. The plans aim to create jobs, boost the economy and make energy production more sustainable.
For the Maritsa East Complex, EIB Advisory provided a SWOT analysis to identify “strengths, weaknesses, opportunities, and threats.” The analysis highlighted key strengths, such as existing infrastructure and a skilled workforce, while addressing challenges related to economic dependence on coal and environmental concerns. It also pinpointed opportunities in renewable energy, European Union funding and economic diversification. The goal was to provide a map of investment projects that meet the new energy aims, leverage regional strengths and address weaknesses for a successful transition. We also wanted to expand on the industrial culture in the region of Stara Zagora.
The advisory approach focused on repurposing existing infrastructure, such as retrofitting power plants, and retraining the workforce to meet technological demands. Creating quality employment in the energy sector was a key objective, as well as encouraging research and development in clean energy technologies. This work can include ways to reclaim land, mitigate environmental impacts, improve energy efficiency, and upgrade community facilities and public transportation. Strengthening the abilities and resources of local authorities, civil organisations and businesses is important for a successful transition.
To attract funding, EIB Advisory developed an investor roadmap. This outlined detailed project proposals, business plans and marketing materials, highlighting investment opportunities while optimising the use of assets. It included designing incentives to attract investors, fostering partnerships and ensuring the region’s long-term economic viability.
