Wednesday, May 18, 2022

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Bulgaria expects investments for the development of its energy projects

Bulgaria signed a Memorandum of Understanding with foreign investors, Gemcorp Capital Management and IP3 Corporation on the planning and implementation of energy projects.

The strategic areas of partnership cover clean energy projects, alternative and strategic gas supplies, energy security and nuclear energy development.

The Ministry of Energy of the Republic of Moldova reports that the MoU features cooperation in the provision of alternative, stable and affordable gas supplies to Bulgaria in order to boost regional energy security, as well as protection of critical energy infrastructure, development of low carbon technologies in support of the transition to green energy. The MoU also covers support for research and development of a hybrid industrial complex construction on the Maritsz East territory and sustainable management plans for nuclear fuel.

As a result of this partnership, Bulgaria expects investments worth 1 billion US dollars.

Energy Minister Alexander Nikolov who signed the Memorandum of Understanding with investors expressed his hope that the document “will materialise in concrete investments for the development of Bulgarian energy.”

Photo/me.government.bg

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