site.btaUPDATED Cabinet Approves Strategic Energy Cooperation Documents

Meeting on Friday, Bulgaria's caretaker Cabinet approved three strategic energy cooperation documents with South Korea, Japan and Germany, caretaker Energy Minister Vladimir Malinov told a news briefing at the Council of Ministers.

One document is a draft memorandum on cooperation between Bulgaria and the Republic of Korea in the energy sector, including in the field of nuclear energy and renewable energy sources.

Malinov recalled that by a resolution of the National Assembly, the South Korean company Hyundai Engineering & Construction Co was named the contractor of a project for the construction of Units 7 and 8 at the Kozloduy Nuclear Power Plant using the AP1000 technology of US-based Westinghouse.

"This draft memorandum, which has been approved and I have been mandated to sign, will enable the deepening of bilateral cooperation and the provision of relevant institutional support," Malinov said.

The Government also approved a memorandum with Japan's Economy, Trade and Industry Minister Ken Saitō on the pursuit of energy cooperation between Bulgaria and Japan, the caretaker minister said. The main focus of this cooperation is on natural gas and nuclear energy, as well as the advancement of corporate-level cooperation in the field of hydropower, and especially concerning the Chaira Pumped-Storage Power Plant, Malinov added.

The Minister said that within two weeks of the completion of the requisite approval procedure, the National Electricity Company (NEK) will launch two public procurement procedures for the complete replacement the Chaira Units 1 and 4. This will result in long-term stabilization of the country's electricity system and benefit the national economy, Malinov said. This continuous process may take several years, covering the units’ design, delivery, construction, and commissioning.

To shorten this period, NEK plans to launch a public procurement procedure within two weeks so as to award Toshiba, which originally built the facility in 1985-1986, to repair Unit 1 so that it can be put into operation soon. The idea is to replace Unit 1 and 4 and to keep Units 2 and 3. This will make it possible to have the Balkans' largest energy storage facility providing a capacity of 800 MW to the Bulgarian market and the region.

Meeting on Friday, the Council of Ministers also approved the signing of a joint declaration to strengthen relations between Bulgaria and Germany in renewable energy, hydrogen, and the creation of green corridors. These corridors will facilitate the transfer of energy produced from renewable sources and hydrogen from Bulgaria to Central Europe and Germany, Malinov said.