Hydro and biomass power holds the most potential of Bulgaria’s renewable energy sources, according to the nation’s renewable energy development forecast strategy developed by the Ministry of Economy.

The document will form part of Bulgaria’s clean energy strategy, which should be put together by the middle of 2010 to map out ways to meet the country’s 16% target by 2020. Currently, renewables represents a paltry 1.5% of total consumption.

According to the estimates, wind energy could account for 7.5% of Bulgarian renewable energy supplies.

The announcement about the forecast strategy comes three weeks after environment minister Nona Karadjova said the government might halt renewable energy projects until the development plan is completed and protected areas have been designated.

To ramp up its green energy output, Bulgaria might join forces with other EU members, with the Danube River and the Black Sea the most lucrative sites for joint projects.

Two joint hydro power plants are expected to spring up between Bulgaria and Romania within the 2020 deadline.