site.bta Bulgaria Can Find Like-Minded Countries for Just Energy Transition, MEP Tsvetelina Penkova Says

In a BTA interview, Bulgarian MEP Tsvetelina Penkova (Progressive Alliance of Socialists and Democrats/Bulgarian Socialist Party) said she believes that Bulgaria can find like-minded countries around the world for a just energy transition. Penkova is part of the European Parliament's official delegation to the 2024 Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which will take place in Baku between November 11 and 22. Penkova was elected Vice-Chair of the Committee on Industry, Research and Energy in the European Parliament (EP), European Energy Forum President and EP Nuclear Energy Support Group Vice President. Penkova prioritizes energy policy to reduce bills for households and industry and the creation of a strong industrial policy to restore Europe’s manufacturing and competitiveness.

"The decisions that are taken at such conferences should be the product of conscious national policies for which support is sought from various international partners. If we know what we want to achieve, we can find like-minded people to support us," she stressed.

"It is not only Bulgaria that relies on its own resources such as coal for its energy industry. If we want to preserve the well-being of those employed in the Maritsa Iztok energy complex, we can look for other countries to initiate policies to support and continue the work of this segment of the energy industry. Coal is the most important and widespread fossil fuel in India, supplying 55% of the country's energy needs. India's population is 17.78% of the total world population. If we can bring such countries together, we can push for financial instruments that support those employed in this sector," Penkova explained.

She also gave the example of China, which is investing heavily in the production of renewable sources such as photovoltaic panels or wind generators and is gradually reducing its use of coal. "If we can create good contacts between Bulgarian and Chinese companies, we can produce some of these technologies in Bulgaria. Poland is another example of our European partners that are heavily dependent on energy produced from coal. In this direction, we have many opportunities to work together on the reclamation of coal mining regions and guaranteeing long-term employment for experts in the sector," Penkova added.

She recalled that in the last year of the previous mandate of the European Parliament she had worked on the Regulation for the re-industrialization of Europe, which foresees investments in such new technologies. "In the current mandate of the European institutions, this plan will be further developed and there is now talk of creating a specific Industrial Deal to succeed and further develop the industrial wing of the Green Deal. My main priority in this direction will be to secure the investments we need to achieve this", she further said.