Minister Malinov at COP29: Bulgaria has a leading role in strengthening national and regional energy security

"Bulgaria has a leading role in strengthening national and regional energy security, connectivity in the Black Sea basin and using the potential for energy production from renewable sources in the Caspian region. The well-developed electricity transmission system, interconnections with neighboring countries, the developed electricity market and the possibility of investments in renewable energy sources presuppose a central role for our country in the realization of this concept". This was said by the Minister of Energy Vladimir Malinov, who was among the special guests at the ministerial dialogue dedicated to increasing investments to triple RES and double energy efficiency, which was held in Baku within the framework of the 29th session of the Conference of the Parties to the Framework United Nations Convention on Climate Change.

The event is jointly organized by the Azerbaijan Presidency of COP29 and the United Arab Emirates Presidency of COP28. The European Commissioner for Climate Vopke Hoekstra, the Minister of Energy of Azerbaijan Parviz Shahbazov, the Executive Director of the International Energy Agency Fatih Birol, the Executive Director of the International Renewable Energy Agency Francesco la Camera, the Director General of DG Energy in the European Commission also took part in the discussion. Dite Yul Jorgensen and others.

The wide implementation of clean technologies in industry, access to competitive financing and government assistance are of key importance for accelerating the green transformation and reducing emissions in energy-intensive sectors, Minister Malinov emphasized and concluded that the Bulgarian government is directly involved in the implementation of these priorities.

Later in the day, the Energy Minister participated in the Ninth Ministerial Meeting under the Strategic Partnership Agreement in the field of development and transmission of green energy. In front of his colleagues - Ministers Parviz Shahbazov (Azerbaijan), Levan Devitashvili (Georgia), Peter Sijarto (Hungary) and Sebastian Burduza (Romania), Minister Malinov declared the desire of the Bulgarian side to join the intergovernmental agreement on strategic partnership on the Green Corridor project between Azerbaijan, Georgia, Romania and Hungary. The representatives of the countries welcomed the interest expressed by Bulgaria and expressed readiness to start the process.

"Security, cooperation, coordination, in combination with appropriate financing are key to the construction of green energy corridors between countries," said Minister Malinov. He emphasized that the Bulgarian side has supported the green energy corridor project since its inception as a strategy for strengthening regional and national energy security.

Bulgaria will participate in the joint "Green Energy Corridor" project, which envisages an underwater cable for the transmission of energy from renewable sources between Azerbaijan, Georgia, Romania and the Black Sea, and then to Hungary and the rest of Europe.