Minister Malinov: Our cooperation with the Republic of Korea helps us develop a modern and competitive energy industry
Deepening cooperation in the interest of our countries is of utmost importance to achieve the goals of carbon neutrality through new energy technologies. This was said by Energy Minister Vladimir Malinov at the opening of today's Bulgarian-Korean Energy Forum in Sofia, organized by the Atlantic Club in Bulgaria, the Embassy of the Republic of Korea and the Korean Trade and Investment Promotion Agency (KOTRA).
The Republic of Korea is one of Bulgaria's most promising partners in efforts to deal with climate change, the use of RES, the increase in energy efficiency, the development of nuclear energy, Minister Malinov pointed out. He recalled the excellent results of his visit to the Asian country two months ago and the constructive talks held with key representatives of the parliament and government. During the visit, a bilateral memorandum on cooperation in energy was signed, which is a good basis for deepening mutually beneficial relations and will promote business contacts for more investments in the sector.
Bulgaria is a country with more than 50 years of experience in the operation of nuclear facilities, and the development of this subsector is an important prerequisite for a successful response to the challenges related to the European Green Deal. Minister Malinov emphasized that the combination of Bulgarian traditions and experience in the exploitation of nuclear power with Korean expertise in technological solutions in this field is a key factor for their successful development in the future.
According to him, a special place in these relations is the fruitful cooperation with the Korean Hyundai Engineering and Construction, as well as with the American Westinghouse Electric Company, on the strategic project for the construction of two new units at the Kozloduy NPP site. The successful implementation of this project is of key importance for both Bulgaria and South-Eastern Europe in terms of carbon neutrality and energy security goals, as well as competitive prices for consumers.
"The main goal of our government is to speed up the implementation of the project to the maximum extent, and this year we consider it important to focus on the design and structuring of the financial and business model," said Minister Malinov. He drew attention to the fact that our country is already in the final stages of signing the engineering contract, which is due on November 4. The willingness of Hyundai and Westinghouse to work together and provide an integrated service, figuratively speaking, "turnkey" for us is a guarantee for the successful implementation of the project within the stipulated time and budget, he assured.
We greatly appreciate the support for the project that we received from the National Assembly of the Republic of Korea during my visit to Seoul. For us, this is a definite sign of its viability. The construction in Bulgaria of the first Westinghouse AP 1000 type reactor in Europe, supported by the most modern technological solutions of Hyundai, is a guarantee that our country will continue to maintain its leading role in the region in providing clean and safe energy for consumers. Minister Malinov summarized.