Minister Malinov and the Vice President of the EIB discussed cooperation in the energy transition process

The European Investment Bank will support the Bulgarian side through sustainable solutions in the process of achieving an 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," emphasized Minister Malinov.

As part of 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 the "Dospat" and "Batak" PSHP. The agreement stipulates that the EIB will provide NEC EAD with free technical assistance for the purpose of financing 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," noted Minister Malinov. In his words, the Bulgarian side will rely on the accumulated experience and 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 undertook to prepare all the necessary procedures for launching the feasibility study as soon as possible.

During the conversation, Minister Malinov and Vice President Kakouris outlined steps to accelerate the activities of providing technical assistance by the bank in developing a development and investment plan for the "Maritsa-East" complex.