The feasibility study for the US-funded East-West Energy Corridor was signed at the Council of Ministers today in the presence of Prime Minister Dimitar Glavchev and US Ambassador Kenneth Merten, BGNES reported.
Acting Prime Minister Dimitar Glavchev noted that for Bulgaria this cooperation is key in terms of priorities in the energy sector and the successful implementation of the green transformation.
"The feasibility study will include an economic and technical analysis of the need to develop the electricity grid and increase cross-border capacity at Bulgaria's borders with Romania, Greece, Turkey and the Republic of North Macedonia. It will enable the efficient use of green energy produced in the region and contribute to the successful implementation of our priorities related to the decarbonisation of the economy and the Green Deal," Glavchev said.
"As more and more renewable sources enter the energy mix of the countries in South East Europe, it is crucial that we have a rapid development of the electricity infrastructure to enable the green energy produced by the countries in the region to be used efficiently," ESO CEO Angelin Tsachev said after signing the agreement.
The project initiated by ESO EAD is planned to connect the electricity grids of Turkey, Bulgaria, Greece, North Macedonia, Kosovo, Albania and Montenegro, with the possibility to reach Italy. Improving cross-border transmission capacity and the ability to exchange in real time the energy produced from renewable sources in the region is key to effectively harnessing green energy and meeting decarbonisation and green transformation targets.
The grant contract is worth nearly $1.5 million. | BGNES
