site.btaBulgaria Can Become "Balancing Energy Power" in Balkans

Bulgaria can become the balancing energy power of the Balkans, Energy Minister Zhecho Stankov said on Thursday during a Korea–Bulgaria Energy Forum titled "Clean, Secure, Competitive: The Energy Mix for Strategic Autonomy". The event, organized by the Embassy of the Republic of Korea in Bulgaria and the Center for the Study of Democracy, opened at the Grand Hotel Millennium Sofia.

“Together with investors such as Hyundai and Samsung, we have plans that align with our national energy strategy,” the minister noted.

He emphasized that energy security, decarbonization, and maintaining the competitiveness of Bulgarian businesses are key priorities. For this reason, he said, the government and the National Assembly have decided to invest in nuclear energy.

“With more than 50 years of experience in nuclear power, Bulgaria is among the countries determined to continue investing in this sector. Seventy per cent of the population supports this initiative,” Stankov added. According to him, this is a crucial step in ensuring the country’s energy security.

“At the same time, we cannot act alone — which is why we are working with partners from the Republic of Korea,” the minister stressed. He pointed out that investment opportunities exist not only in large nuclear reactors but also in small modular reactors.

In addition, Stankov underlined the importance of investing in energy storage systems as part of the transition to a more resilient and sustainable energy mix.