The day in 3 news: Green energy production surpasses coal; Employee stages break-in at Dubai consulate; FoF looks for new fund managers

The day in 3 news: Green energy production surpasses coal; Employee stages break-in at Dubai consulate; FoF looks for new fund managers

© Надежда Чипева


Record renewable energy production

Bulgaria has recorded the longest period in its recent history in which energy production from renewable sources has surpassed that of coal. From March to August, renewable energy generated from solar, wind, water, and biomass was 44% higher than that produced by coal-fired power plants.

This marks a significant shift in the country's energy system and signals emerging trends. For comparison, during the same period last year, coal-generated electricity exceeded that of renewables, with green energy surpassing coal in only two months - June and July.

Break-In at Bulgarian Consulate in Dubai solved

A suspect has been identified in yesterday's break-in at the Bulgarian Consulate General in Dubai, according to the Ministry of Foreign Affairs. Initial reports suggest that the perpetrator is probably a technical staff member who planned to steal money from the consulate after hours. However, the theft was unsuccessful.

Fund of Funds begins VC manager selection process

The Fund of Funds (FoF) is moving forward with the selection process for three venture capital funds, which will collectively manage 100 million euros in public resources. The funds are divided into two tranches of 30 million each and one tranche of 40 million.

In July, a total of 14 candidates submitted initial offers after 24 teams expressed interest at the preliminary selection stage, although some teams overlapped across different funds. The reduction in the number of candidates was due to withdrawals by the applicants themselves, not because of screening by the state institution, the FoF claims.

The plan remains to select the winners of the competition by the end of the year, with the chosen funds expected to begin investing in companies at the start of 2025. Realistically, however, fund managers will likely be able to begin investing towards the end of spring

Record renewable energy production

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