site.btaSustainable Energy Key to Autonomy, Competitiveness, President Radev Says

President Rumen Radev underscored the crucial role of sustainable energy in ensuring strategic autonomy and economic competitiveness at the BULATOM international nuclear conference here on Wednesday. Radev emphasized the value of long-term cost predictability, a feature inherent to nuclear energy. 

The President highlighted that BULATOM serves a purpose beyond being a platform for nuclear energy discussions. It is intrinsically linked to the strategic independence of the European Union (EU), the European Green Deal, and maintaining EU's competitive edge. The demand for electrical power is set to surge dramatically by 2050 across all sectors of the economy, Radev said. 

He added that implementation of cost-effective and efficient energy storage tech for renewable energy sources (RES) has not yet materialized. The importance of land, a valuable national resource, and the need for substantial grid infrastructure investment for RES deployment were also mentioned. 

Bulgaria's involvement led to a consensus for nuclear power to remain within the EU's taxonomy, recognized as a sustainable and eco-friendly investment. Radev noted the importance of competitiveness, living standards, and employment, alongside environmental concerns. He confirmed Bulgaria's commitment to expanding its nuclear energy sector and called for clear timelines for new power facilities, emphasizing that building a new unit could create thousands of jobs, stimulate education and science, contribute to regional socio-economic growth, and maintain national prestige. He also suggested considering new technologies, such as small modular reactors and concluded by saying nuclear power is an indispensable resource over the short and medium term.