site.btaImportance of Energy Supply Security is Key, Energy Minister Stankov Says

Security of energy supply is of key importance, Energy Minister Zhecho Stankov said at the fifth edition of the Sofia Economic Forum. In his words, this includes connectivity in both the energy grid and gas infrastructure.

Stankov added that the construction of new nuclear capacities in Bulgaria is also important, as well as the development of renewable energy capacities (REC) and Pumped Storage Hydropower Plants.

The minister stressed that these measures are essential for balancing the electricity grid. He pointed out that current power generation has reached 5,000 megawatts and the target is to increase capacity to 7,000 megawatts in the near future.

Stankov specified that the last 3-4 years have been difficult for Bulgaria from a political point of view. He expressed his satisfaction that the country now has a stable government with a clear perspective not only in the energy sector. The Minister assured the European partners that Bulgaria will work together with them on all key projects important for the country and for Southeast Europe. He said that Bulgaria offers a stable environment for investors in the energy sector and pointed out that the country is a suitable place for investments in renewable energy sources and energy storage technologies, such as batteries, to help balance the electricity system.

The Minister stressed that the implementation of these projects ensures Bulgaria's energy security. He added that a subsidy mechanism is currently in place for businesses and citizens, but stressed that in the long term the focus should be on investment in energy efficiency. Stankov also noted the importance of encouraging households to generate their own energy, which will help save the capacity of the electricity grid. "These measures will be among the main priorities of the government's policy agenda for the next four years", he said.