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Bulgaria planning projects for €46 billion to remain energy leader in the region

published on 1/18/23 6:38 PM

Photo: pixabay

The Council of Ministers approved at today's meeting a strategic vision for the development of the country's electricity sector in 2023-2053. The strategy aims for Bulgaria to remain a leader in the production and export of electric power in the region .

The document envisages the use of domestic lignite by 2030 and its gradual reduction and phase-out by 2038.

Four new nuclear reactors are to be built to replace the capacity that will be decommissioned. Two of them are expected to be built at Kozloduy NPP site and another two at Belene.

The development of photovoltaic and wind capacities and wind turbines is also envisaged.

A key element for the future is the production of hydrogen to reduce Bulgaria's dependence on natural gas imports. The estimated cost of implementing all the projects included in the new energy strategy amounts to around €46 billion.

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Radio Bulgaria Economy 2023-2053 electricity strategy

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Bulgaria planning projects for €46 billion to remain energy leader in the region

More from category

Financial Supervision Commission: The assets of private pension funds have reached EUR 13 billion

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More than EUR 1 billion to be allocated for agriculture and the development of local economies

Financial Supervision Commission: The assets of private pension funds have reached EUR 13 billion