site.btaCabinet Approves Memorandum between Bulgaria, Turkiye on Cooperation in Energy Efficiency

The Council of Ministers Wednesday approved a draft Memorandum of Understanding between the governments of Bulgaria and Turkiye on cooperation in the fields of electricity and energy efficiency, the Government Information Service said.

The document is scheduled to be signed on May 2, 2025, during the Istanbul Natural Resources Summit. The memorandum aims to establish a framework for bilateral energy cooperation and facilitate the exchange of technical knowledge, expertise, and practices in line with each country’s national legislation.

Key areas of cooperation outlined in the document include electricity connectivity, renewable energy, energy storage, energy efficiency, and carbon capture, use and storage, the Government Information Service added.

The memorandum identifies the development of hydrogen technology and next-generation fuels as areas of mutual interest. To strengthen bilateral ties, the document emphasizes the importance of developing new electricity connectivity projects, enhancing cross-border capacities, and encouraging private sector investment in these initiatives.

Bulgaria and Turkiye have traditionally enjoyed good economic relations. Both countries play a key role in ensuring energy security, competitiveness and sustainable development in the region, the Government Information Service said. 

The memorandum will be valid for an initial period of five years, with the option for automatic renewal for additional five-year terms.