Bulgaria becomes the energy balancer hub of the Balkans with 3 new pumped-storage plants

Bulgaria wants to become the energy balancer of the Balkans, with new ambitions to build three new pumped-storage hydroelectric power plants (PSHPs), each with a capacity of 1,000 megawatts. This was announced during a meeting between the country’s Minister of Energy Zhecho Stankov and the Ambassador of Japan to Bulgaria H.E. Hisashi Michigami.

These facilities will enable us to provide Bulgarian citizens with cheap energy from renewable sources, which fully fits into the concept of developing a competitive industry in the interest of consumers," said Stankov. 

The Japanese Toshiba is the manufacturer of the original equipment of the Chaira pumped-storage plant, and is also involved in the repair of the plant's first unit.

Speaking to Ambassador Michigami, Minister Stankov emphasized that Bulgaria has a well-developed electricity and gas network, as well as connections with neighboring countries, which assigns the country a key role in ensuring the energy needs of the region. The Energy Minister presented to Ambassador Michigami the project for the transmission of green energy from the Caspian region to Romania to Hungary, in which Bulgaria has expressed an interest in participating.

As has already become clear, Bulgaria has the ambition to be the first country to begin real action on building the Vertical Gas Corridor connecting Greece, Bulgaria, Romania, Moldova, Hungary and Ukraine.

The construction of units seven and eight of the Kozloduy NPP, on the other hand, is a strategic project in the field of nuclear energy, which will guarantee the energy security and independence of the country.

The two countries expressed their readiness to deepen cooperation in the field of renewable and nuclear energy, including by strengthening the exchange of experience and good practices. Ambassador Michigami conveyed that there was investment interest in Bulgaria on the part of Japanese businesses. In the middle of this year, representatives of Japanese companies are expected to visit to study the business climate and investment opportunities in our country.

Translated by Tzvetozar Vincent Iolov