site.btaBulgaria Proposes EUR 1.41 Bln Energy Projects for Inclusion in Juncker Plan

Bulgaria Proposes EUR 1.41 Bln Energy Projects for Inclusion in Juncker Plan


Sofia, March 20 (BTA) - "Bulgaria has proposed energy sector
projects worth a total of 1,410 million euro for inclusion in
the Juncker Plan," Energy Minister Temenouzhka Petkova said,
addressing Parliament during Question Time on Friday.

The first list under the Juncker Plan, published by the European
Commission in December 2014, was limited to electric power
industry projects, Petkova pointed out. After that, the
Commission made it possible to submit new proposals as well.

In January 2015 the Energy Ministry proposed six gas projects
prioritized by Bulgaria for inclusion in the list: the
Bulgaria-Greece interconnector link; an extension of the Chiren
underground gas storage facility; rehabilitation and
modernization of the national gas transmission system; the
Bulgaria-Turkey interconnector; building a second underground
gas storage; and the Bulgaria-Serbia interconnector. Two
electric power industry projects were also added to the updated
list: an extension of the Chaira Pumped Storage Power Station by
the Yadenitsa Dam and rehabilitation of substations of the
country's electricity distribution system, the Minister
reported.

"A large part of these projects have been recognized by the
European Commission as important projects of common European
interest; moreover, they are crucial for the development of
Bulgaria's energy sector," Petkova said, arguing that if these
projects are successfully implemented, Bulgaria will have far
better prospects for energy diversification.

The Energy Ministry analyses showed that the six gas projects
require investments of some 764 million euro. Construction of
the five electric power industry projects will cost 646 million
euro, which means that all eleven projects are worth some 1,410
million euro, Petkova said. She hopes that all projects will be
approved, and specified that the interconnector projects are
listed among 14 European Commission projects for priority
construction.