site.btaBulgaria, Greece Sign Energy MoU

Bulgarian Energy Minister Rumen Radev and Greek Environment and Energy Minister Theodoros Skilakakis signed a Memorandum of Understanding between their ministries in Athens on Thursday, Radev's Ministry said in a press release.

The Memorandum provides a framework for deepening energy cooperation on the basis of the principle of mutual benefit and considering the parties' common interests and goals. It is concluded for three years and can be extended beyond that period.

The parties are willing to increase the transmission capacity of the national electricity and natural-gas networks, to build and extend hydrogen-transmission networks, and to increase the cross-border capacity on the basis of proved market interest. They will seek to optimize the utilization of the potential for energy production from renewable sources and the development of hydrogen technologies in the region and the setting up of a cross-border infrastructure for the real-time production, transmission and consumption of such energy. The Memorandum also promotes the ongoing digitization of the electricity networks and the creation of conditions for flexible management and balancing the two countries' electricity systems. 

Another objective set out in the MoU is the development of projects of regional and Community interest targeting a just transition to a decarbonized and climate-neutral economy.