A total of 50 companies signed contracts for receiving BGN195m under the EU operating program Innovations and Competitiveness, local media reported. The funds will be used to improve the companies’ energy efficiency. Only BGN95m of them are grants, the remaining BGN100m will have to be repaid by the companies. The contracts also envisage that 42 of the companies will have to invest in better energy efficient facilities, as well as to introduce and certify energy management systems. The introduction of automatic systems for electricity consumption monitoring and control will be obligatory for 30 of the companies. Alexander Manolev, deputy economy minister, said that preliminary analyses showed that some companies have the chance to improve their energy efficiency multiple times.