Minister Malinov: Our cooperation with the EBRD supports our efforts to ensure the security and sustainability of the electricity system
"Our cooperation with the European Bank for Reconstruction and Development (EBRD) supports our efforts to ensure the security and sustainability of the electricity system". This was stated by the Minister of Energy Vladimir Malinov during his meeting with the Director for Bulgaria at the EBRD Manuela Nessel. In the context of the overall cooperation between the institutions, the two discussed the possibilities for continued support, including through financing by the bank, of priority projects in the energy sector in Bulgaria such as investments in energy storage infrastructure, for the development of transmission networks, as well as hydrogen technologies in energy.
"The geopolitical situation and the volatility of energy prices pose a serious need for us to ensure secure and predictable development of the energy sector," stressed Minister Malinov and added that our partnership with the EBRD is key in this regard.
The dialogue between the Ministry of Energy and the EBRD in the context of the strategic priorities of the two institutions in the region will continue.
During their meeting at the Ministry of Energy, Minister Malinov and Ms. Nessel signed an additional agreement to provide technical assistance for the investment in the national infrastructure for storing electricity from renewable sources RESTORE, financed under the National Recovery and Sustainability Plan.
According to Minister Malinov, the construction of a national electricity storage infrastructure is an additional guarantee for the security and sustainability of the electricity system, which helps to fully utilize renewable energy, in line with our decarbonization goals.
We recall that the technical assistance agreement between the Ministry of Energy and the EBRD was signed on March 30, 2023. due to the complexity of the activities and the pilot nature of the investment from the National Recovery and Sustainability Plan.