Energy storage will play a crucial role in Bulgaria’s energy transition, Minister Radev says

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The Bulgarian Industrial Capital Association (BICA) is pointing out how Bulgaria’s energy transition will face huge challenges when replacing fossil fuels energy generation with renewables and nuclear energy. To ensure a sustainable transition, energy storage systems will be crucial. According to BICA’s chairman Vasil Velev, these systems should be included in the energy strategy of Bulgaria. He recognised that currently, the energy stored could be more expensive, but there are several innovative technologies that could make it cheaper.

During a roundtable discussion which took place in Sofia, earlier in November, the Minister of Energy Rumen Radev also agreed on the importance of developing energy storage systems in the country, especially considering the widespread consensus about future forms of energy like renewables, hydropower and nuclear. Indeed, investments are being made both in the transmission and distribution side of the electricity system, using the Modernisation Fund. At the same time, energy storage will play an important role also when developing cross-border interconnection.

In this regard, further investments in the hydropower sector will be essential. The Minister  mentioned the Chaira Pumped Storage Hydro Power Plant and the plan to build an additional capacity of 1,600-2,000 megawatts (MW).

“We are not just talking about a serious national presence, but a serious regional presence,” Mr Radev said. “This kind of development gives us the backbone for a larger-scale installation of RES capacities, both solar and wind. Regarding storage systems, when we talk about electricity, we are not limited to a specific technological solution. What we want to do is to enable technology-neutral solutions so that the choice remains in the hands of the relevant investors or stakeholders.”

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