The European Investment Bank will support the Bulgarian side through sustainable solutions in the process of achieving energy transition. Energy Minister Vladimir Malinov and EIB Vice President Kyriakos Kakouris united around this during a bilateral meeting.
„The EIB's participation in key energy projects will contribute to their successful implementation”, Minister Malinov emphasized.
During the visit to the Ministry of Energy, an agreement was signed between “National Electric Company” EAD and the European Investment Bank for consulting assistance in the preparation of a feasibility study for the realization of PAVEC “Dospat“ and “Batak“.
The agreement stipulates that the EIB will provide NEK EAD with free technical assistance in order to finance the preliminary and pre-project studies.
„In the implementation of the energy transition goals, a number of challenges are still on the agenda, including the storage of the produced energy. Pumped-storage hydropower plants could become the largest energy storage batteries in the region, Minister Malinov noted.
In his words, the Bulgarian side will rely on the accumulated experience and the expertise of the EIB in the entire process of implementing such a project, which will contribute to guaranteeing the security of the country's electricity system.
Vice President Kakouris committed to preparing all the necessary procedures to start the feasibility study as soon as possible.
Minister Malinov and Vice-President Kakouris also outlined steps to speed up the activities of providing technical assistance by the bank in the development of a development and investment plan for the “Maritsa-East” complex.