Bulgaria’s Energy Minister Alexander Nikolov discussed the country’s investment prospects with the President and Chief Executive Officer of British power generation business ContourGlobal, Joseph Brandt.
The need for energy transformation in line with the challenges of the European Green Deal and, in parallel, the possibilities of increasing energy security and independence in the context of military action in Ukraine were at the heart of the discussion.
Both sides agreed that in the current situation without its own energy resources, such as lignite, the security of the energy system in Bulgaria is practically impossible. Using this basic resource provides stability and predictability for the electricity market throughout the region, as Bulgaria is a net exporter of electricity.
Minister Nikolov assured that a large proportion of the funds in support of energy transformation, which Bulgaria is due to receive, will be allocated to Stara Zagora, a province that offers rich opportunities for investment and modern industrial development.
In the Minister’s words, every project that will support diversification and energy security in the country is welcome. Carbon capture prospects, RES development and hydrogen infrastructure were part of the highlighted energy transformation prospects for the Maritsa East complex.