NEWS

Radev at a meeting with EBRD President: Bulgaria is Working for Long-Term Solutions to Ensure Reliability and Autonomy of the Energy Sector

Bulgaria is working for long-term solutions to ensure reliability and autonomy of the energy sector and to minimise the negative effects of new energy crises in the future, President Rumen Radev said today at a meeting with the President of the European Bank for Reconstruction and Development, Odile Renaud-Basso in Tirana. The head of State is on a visit to Albania to attend the EU-Western Balkans summit.

The President stressed that the transition to a green economy should lead to strengthening the national capacity to generate cheap electricity, which would both meet Bulgaria's needs and support the energy balance in the region. The implementation of the targets set in the National Recovery and Resilience Plan for reducing carbon emissions and storing electricity should be achieved in such a way that the national energy resources, accumulated experience and scientific potential of the country are used to the maximum extent, Radev added. In this regard, the idea of leading Bulgarian universities, scientists and business officials to store electricity by creating an underground power plant in the Maritsa basin region with technology that has already been implemented in some countries was highlighted.

During the meeting, the head of State called for making connectivity in Southeast Europe a priority for the countries of the region as well as for international financial institutions. This, according to Radev, is key to ensuring alternative supply chains, avoiding deficits and subsequent inflation growth. The President reiterated that unlike in Central Europe, the distance between the two Danube bridges connecting Bulgaria and Romania is 300 kilometres, which is not in the interest of the development of the economic ties of the two countries, nor of the EU.