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 will impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket U.S. tariffs on steel and aluminium.
The eighth summit between the leaders of the EU and South Africa will take place in Cape Town, South Africa, on 13th March.
EU High Representative/Vice-President Kaja Kallas will travel to the US and Canada where she will address the United Nations Security Council in New York and the G7 Foreign Ministers’ meeting organised by the Canadian presidency in Charlevoix, Québec.
The President of the European Council, António Costa will travel to Moldova and Egypt from 3 to 4 March 2025 to engage in high-level discussions on European security, support for Moldova, and the current situation in Gaza.
European leaders’ summit group photo at Lancaster House, London.
On March 12, Azerbaijani President Ilham Aliyev met with Vaira Vike-Freiberga and Ismail Serageldin, co-chairs of the Nizami Ganjavi International Center, along with former heads of state, government, and Board of Trustees members.
The European Union will impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket U.S. tariffs on steel and aluminium.
The European Commission has raised €9 billion of EU-Bonds in its 3rd syndicated transaction for 2025.
Cuba has granted early release to 553 prisoners as part of a deal mediated by the Holy See during the final days of former U.S. President Joe Biden’s presidency.
President Donald Trump is preparing a new travel ban that could block entry for people from Afghanistan and Pakistan as early as next week. The move is part of an intensified immigration crackdown.
Italy’s League party urges the government to favour Starlink over French-led Eutelsat for satellite communication systems, citing Starlink's technological edge. The push comes amid delays in the EU’s IRIS² program, as Italy seeks secure communication solutions for officials.
XPeng Motors plans to mass-produce flying cars by 2026, becoming the first company globally to do so. CEO He Xiaopeng also highlighted advancements in autonomous driving and humanoid robotics as part of the company’s future tech initiatives.
The Organization of Islamic Cooperation (OIC) is set to condemn Trump’s Gaza “Riviera” plan, backing Egypt’s $53 billion reconstruction proposal. A classified draft resolution, rejects the relocation of Gazans, calls for urgent international support, and mobilises opposition to the U.S. stance.
A WaterAid study finds major cities swinging between droughts and floods as climate change disrupts water cycles. Asia faces more floods, while Europe and the Middle East dry out. Cities like Hangzhou and Jakarta suffer extreme shifts, urging urgent infrastructure adaptation.
Climate change is threatening the sustainability of low Earth orbit, with new research from MIT revealing that shrinking atmospheric layers could significantly reduce the number of satellites able to operate safely by the end of the century.
The United Nations climate summit model is showing its limits, despite decades of negotiations, said COP30 President Andre Correa do Lago, calling for a new era focused on action rather than prolonged talks.
New research on Greenland sharks reveals genetic traits linked to their 400-year lifespan and resistance to cancer. Multiple copies of genes related to immune function and DNA repair may hold key insights for human aging and health.
A new MIT study confirms that the ozone hole over Antarctica is healing, thanks to global efforts to reduce ozone-depleting substances, with full recovery possible in the next decade.
On March 12, Azerbaijani President Ilham Aliyev met with Vaira Vike-Freiberga and Ismail Serageldin, co-chairs of the Nizami Ganjavi International Center, along with former heads of state, government, and Board of Trustees members.
The European Union will impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket U.S. tariffs on steel and aluminium.
The European Commission has raised €9 billion of EU-Bonds in its 3rd syndicated transaction for 2025.
Cuba has granted early release to 553 prisoners as part of a deal mediated by the Holy See during the final days of former U.S. President Joe Biden’s presidency.
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