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Bulgarian energy must step on new modern technologies, which are already very cheap

News • BPVA •
Bulgarian energy must step on new modern technologies, which are already very cheap

We welcome the idea in the National Plan for Recovery and Sustainability for the construction of a battery plant. It is good to have investments in new technologies, in technologies that are from the future. Moreover, the plans are for this investment to be located in the Maritsa Iztok Complex, which would be good for solving the socio-economic problems in the region related to transformation and energy transition. This was commented by Meglena Rusenova, Chairman of the Board of the Bulgarian Photovoltaic Association, in the telecast "The world is business" on BloombergTV hosted by Ivaylo Lakov.

The goal of building such a battery plant is for Bulgaria to develop this industry, which is very promising in terms of meeting the objectives of the Green Deal. The idea is for these batteries to be for energy storage and to balance the system. The idea is worth it and it is the right step, Rusenova stressed.

"Bulgaria has enough scientific and human potential to develop such production".

"The United States is our strategic partner and the visit led by Deputy Prime Minister Assen Vassilev is very important. The meetings are at an extremely high level. I think we have not recently had such a high level meeting in Washington of a large government and business delegation. This is a positive sign for deepening the political and economic partnership between Bulgaria and the United States", the guest said.

"Thank God, the coalition governance agreement no longer talks about this corruption project in Belene. Technology has advanced enough, it can be both safer and more secure, our energy is frozen in the past, and practically the biggest new investment sector is the renewable energy sector, and our community is currently the most active for new investments in energy and its modernization. The share of RES in gross domestic consumption is between 16 and 20%. This is not enough because of the great potential we have as a country with our climate. By 2030, we will meet our 32% target. Investments in renewable sources are market-based, and renewable energy is the cheapest. Bulgarian energy must step on new modern technologies, which are already very cheap. They are marketable".

Currently, in order to finance a project to build a photovoltaic plant, the price that financial institutions require to ensure that it can be achieved is between 80 and 90 euros per megawatt hour. This is much lower than with current prices, which are currently EUR 206 per megawatt-hour.

Тhe biggest risk that all financial institutions take into account when financing renewable energy projects is the risk of connection to the grid - not connecting or at what price you will connect. That is why we are in very intensive talks with the Ministry of Energy. A package of amendments to the Renewable Energy Sources Act is being prepared so that the micro-producer or the one who wants to invest in the plant for his own consumption has one place to submit the documents and if he does not receive a permit within three months, he has the right to start building.

"The regime should not be permissive, but informative."

The problems facing large investors are related to the modernization of the network, with the high connection costs that each investor makes himself.

The Russia-Ukraine crisis will catalyze market liberalization, catalyze the fulfillment of the goals of the green deal, and will largely encourage countries such as Bulgaria, which is a member of the EU but most dependent on Russian natural gas supplies, to diversify the supplies. The interconnection with Greece must also be completed. The main issue here is the political will, which has so far been clearly lacking.


Source: BloombergTV Bulgaria