Bulgaria and Greece signed a Memorandum of Understanding in the field of energy

Bulgaria and Greece will deepen their cooperation on a number of energy topics of mutual interest, including increasing the transmission capacity of the national electricity and gas networks, building and expanding hydrogen transmission networks, optimizing the use of the potential for energy production from RES and development of hydrogen technologies, digitization of electricity networks. This is stipulated in the Memorandum of Understanding between the Ministry of Energy of Bulgaria and the Ministry of Environment and Energy of Greece, signed today, January 18, 2024, in Athens by Ministers Rumen Radev and Theodoros Skilakakis.

The memorandum creates a framework for deepening cooperation in the energy sector based on the principle of mutual benefit and taking into account the common interests and goals of both countries. It is valid for three years, but Bulgaria and Greece can extend this period.

Both parties are willing to increase the transmission capacity of national electricity and gas transmission networks, build and expand hydrogen transmission networks, and increase cross-border capacity based on proven market interest. They will strive to optimize the use of the potential for energy production from RES and the development of hydrogen technologies in the region and build a cross-border infrastructure for the production, transmission and consumption of this energy in real time. The memorandum also encourages the continuation of the digitalization process of the electricity networks and the creation of conditions for flexibility in managing and balancing the electricity systems of the two countries.

Another of the goals recorded in the Memorandum is the development of projects of regional and community interest aimed at achieving a just transition to a decarbonized and climate-neutral economy.