Bulgaria can play a key role in the development of the Green Energy Corridor project, - said Energy Minister, Zhecho Stankov, at the 10th ministerial meeting in connection with the strategic partnership agreement for the development and transmission of green energy.
"Our country has been supporting the initiative from the very beginning and we are starting the procedure of joining the project," Stankov said on Monday to reporters in Budapest.
Bulgarian Energy Holding (BEH) will participate in corporate discussions for feasibility studies and will eventually acquire a stake in the project company, as BTA reported citing the Energy Minister
He highlighted the country’s upcoming large-scale investments in grid digitization, as well as plans to develop energy storage projects, including the construction of new pumped hydroelectric energy storage (PHES) systems at dams, as additional advantages. Stankov emphasized that PHES remains one of the most sustainable technologies for green energy production. He also noted that the anticipated impact of constructing two new capacities, with storage capacities ranging from 30 to 50 GWh, is significant not only for Bulgaria but also on a European scale.
Green Energy Corridor
A ministerial meeting of the Steering Committee on the establishment of the Green Energy Corridor between Azerbaijan, Georgia, Romania, and Hungary concluded in Budapest with significant outcomes, Azerbaijan’s Energy Minister Parviz Shahbazov stated on X.
Along with Azerbaijan and Bulgaria, Hungary was presented by Minister of Foreign Affairs and Trade Péter Szijjártó, Georgia by First Deputy Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili, Romania by Minister of Energy Sebastian-Ioan Burduja. The meeting was also attended by representatives of the European Commission, the Joint Venture GECO Power Company and the Italian company CESI.
According to Shahbazov, the ministry is working on the relevant contract documents with several international wind energy companies regarding the Azerbaijani segment of the Caspian Sea.
The Minister proposed creating two streams within the Working Group, in close coordination with the Green Energy Corridor Power Company (GECO) and CESI:
- The first stream would focus on the business models of the project, conducting preparatory work to establish contacts with potential investors and buyers.
- The second stream would consider the technical details and ensure compliance with the requirements of ENTSO-E and other relevant organizations.
“A joint letter from Azerbaijan, Georgia, Romania and Hungary to the EU Commissioner for Energy Dan Jorgensen” was signed to grant the Project of Mutual Interest (PMI) status, he added.
Additionally, agreements were reached on the inclusion of the project in the EU's Ten-Year Network Development Plan (TYNDP), and necessary steps regarding the fiber-optic cable (FOC) component and project's financing.
It was agreed that, to include the project in the EU’s Ten-Year Network Development Plan (TYNDP), the corresponding request will be submitted by the transmission system operator Transelectrica between April 1 and May 9, 2025. The overall management of the process will be carried out jointly with GECO.
A relevant document was signed on transferring rights and obligations regarding the feasibility study to the Joint Venture – GECO Power Company.
The parties agreed to hold the next Ministerial Meeting in Georgia.
The U.S. plans to seek the redirection of Iranian assets to Gulf states to help fund reconstruction and repairs for damage attributed to Iran, a sourc...
Armenia heads to the polls on 7 June in a key parliamentary vote seen as a test of its democratic reforms and future political direction. Prime Minist...
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships ...
At least a dozen people were wounded, two critically, on Saturday (6 June) in Toledo, Ohio, as two shooters traded gunfire, police said....
The United Nations Assistance Mission in Afghanistan (UNAMA) has warned ahead of World Environment Day that Afghanistan's worsening water crisis is di...
Armenian authorities arrested six candidates from the pro-Russian Strong Armenia bloc on Saturday, one day before voters were due to take part in parliamentary elections.
The new AnewZ documentary, TARGET: Yerevan, builds its explosive case on exclusive, secret recordings originally published by Minval Politika.
Armenia is set to receive a support package worth more than €50 million ($58.2 million) from the European Union (EU) after Russia, its largest trading partner, imposed restrictions on a range of Armenian exports.
All 27 European Union (EU) member countries have agreed to begin the first set of talks with Ukraine and Moldova about joining the political and economic bloc.
Armenian authorities arrested six candidates from the pro-Russian Strong Armenia bloc on Saturday, one day before voters were due to take part in parliamentary elections.
Armenia heads to the polls on 7 June in a key parliamentary vote seen as a test of its democratic reforms and future political direction. Prime Minister Nikol Pashinyan is seeking re-election amid domestic polarisation, security challenges and regional diplomatic tensions.
More than 6,000 people gathered outside a vote-counting centre in Seoul on Friday night, demanding this week’s local elections be repeated after ballot shortages left some voters unable to cast their ballots.
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships Natra and Zircon in the Sea of Azov. In a statement, it said four Azerbaijani citizens were killed and four others were injured.
The U.S. said it struck Iranian radar sites on Qeshm Island and in Goruk after intercepting four drones, while Iran's Revolutionary Guards said they launches retaliatory strikes on four tankers in the Strait of Hormuz and targeted U.S. bases in the Gulf.
Wildlife researchers have identified dozens of previously unknown insect species during an expedition to Angola’s remote Lisima Plateau, a conservation group announced on Wednesday.
Global weather forecasters predict a strong El Niño will develop in the second half of 2026, bringing hotter, drier conditions to much of Asia while increasing rainfall in parts of North and South America.
Google has asked U.S. regulators for permission to release up to 32 million sterilised mosquitoes in California and Florida as part of its experimental “Debug” programme aimed at reducing populations of disease-carrying insects.
Thai investigators seized more than 100 protected wildlife remains after raiding a souvenir and traditional medicine shop accused of selling wildlife carcasses online.
As climate pressures and urbanisation accelerate worldwide, governments are increasingly investing in smart cities and villages to build more sustainable and resilient communities. Across the world, digital technologies are reshaping how cities and rural areas are planned and managed.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment