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 European Union is drafting its 17th package of sanctions against Russia, to be discussed at a foreign ministers' meeting in May, according to the bloc’s foreign policy chief Kaja Kallas.
The European Council decided on Monday to impose restrictive measures on an additional seven individuals and two entities responsible for serious human rights violations in Iran, including for the use of the judiciary as a tool for arbitrary detention.
To facilitate Ukraine's access to global markets by ensuring smoother transit through EU countries, the EU and Ukraine have extended their Road Transport Agreement until December 31, 2025.
A new business partnership between the European Union and Ukraine has been launched in Brussels where the EU-Ukraine Business Summit took place from April 10 to 11.
EU President Ursula von der Leyen and His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates agreed to launch negotiations on a free trade agreement. Commissioner Maroš Šefčovič will soon visit the UAE to take the talks forward.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
Turkish Foreign Minister Hakan Fidan spoke with US Secretary of State Marco Rubio by phone, discussing the situations in Syria, Gaza, and efforts for a Ukraine ceasefire, according to diplomatic sources.
NORAD has monitored a Russian military aircraft operating in the Alaskan Air Defense Identification Zone, confirming it remained in international airspace and posed no threat.
The European Union is drafting its 17th package of sanctions against Russia, to be discussed at a foreign ministers' meeting in May, according to the bloc’s foreign policy chief Kaja Kallas.
A small plane crashed near Kopake, New York, on April 13, killing at 6 people. The Mitsubishi MU-2B aircraft, carrying six people, went down under unclear circumstances. This marks the second aviation accident in New York in a week, raising safety concerns.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 10th, covering the latest developments you need to know.
The death toll from the catastrophic roof collapse at a nightclub in Santo Domingo has risen to 98, with more than 160 people injured, according to Dominican authorities.
A quiet Thursday afternoon at St. Peter’s Basilica turned into something extraordinary, as visitors caught a rare glimpse of Pope Francis — not in his familiar white papal robes, but dressed in black trousers and a striped blanket.
In a dramatic about-face, U.S. President Donald Trump on Wednesday announced a 90-day pause on newly implemented tariffs for dozens of countries — a move that eased market turmoil but further escalated tensions with China.
China has unveiled an ambitious expansion of its renewable energy programme, pledging major investment in solar and wind infrastructure to boost clean energy to 40% of its power mix by 2030—marking a decisive shift toward grid integration and nationwide deployment.
The inaugural Samarkand International Climate Forum will kick off on 4th April at the Silk Road Samarkand Congress Center in Uzbekistan. The high-profile forum will be held under the theme "Central Asia Facing Global Climate Challenges: Consolidation for Shared Prosperity."
Brazil has named automotive industry executive Dan Ioschpe as its official “climate champion” for the COP30 summit, to be held in Belém this November.
Belgium and Vietnam have signed agreements to collaborate on green hydrogen production during King Philippe’s historic visit to Hanoi.
The World Bank reported that air pollution leads to approximately 5.7 million deaths each year, with 95% of fatalities occurring in low- and middle-income nations. It also causes economic losses amounting to 5% of global GDP due to health impacts, productivity decline, and reduced life expectancy.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
Turkish Foreign Minister Hakan Fidan spoke with US Secretary of State Marco Rubio by phone, discussing the situations in Syria, Gaza, and efforts for a Ukraine ceasefire, according to diplomatic sources.
NORAD has monitored a Russian military aircraft operating in the Alaskan Air Defense Identification Zone, confirming it remained in international airspace and posed no threat.
The European Union is drafting its 17th package of sanctions against Russia, to be discussed at a foreign ministers' meeting in May, according to the bloc’s foreign policy chief Kaja Kallas.
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