site.btaBulgaria Plays Strategic Role in Building EU’s Energy Connectivity, Says MEP Tsvetelina Penkova

Europe has free available capital that must be invested in the economy and people, said MEP Tsvetelina Penkova, Vice Chair of the European Parliament's Committee on Industry, Research and Energy. She was speaking Friday during a discussion on the Clean Industrial Deal, balancing Europe’s sustainability goals and market realities.

According to Penkova, each EU Member State must clearly define its strategic advantages in terms of raw materials, industrial potential, skilled workforce, and industry expertise. She noted that the main focus of the Green Deal has been on the development of renewable energy sources (RES) and resolving the debate on the future energy mix of the European Union. Penkova believes that the primary goal has been achieved - creating a framework for the EU's future energy mix, with significant investments and infrastructure set for the development of RES throughout the EU and the continent.

The second stage is to build a manufacturing base. "What is currently lacking, and one of the major topics we are discussing, is energy connectivity, another strategy and legislation that we expect by the end of this year," Penkova said. She added that many RES clusters have already been created, including nuclear energy as part of the future energy mix within the EU.

According to the Bulgarian MEP,  to construct networks and power lines, the EU needs a functioning industry capable of producing the necessary components. In this process, Bulgaria plays a strategic role, Penkova stressed, citing three main reasons. 

First, the availability of critical raw materials in Bulgaria. She noted that Bulgaria ranks sixth in the EU for the export of non-ferrous metals - lead, zinc, and copper. These components are essential for building the interconnected electricity grid and necessary infrastructure.

Second, Bulgaria still has specialists and experts in these areas, which should not be overlooked, as Europe's main resource challenge is not financial, but the lack of human capital. 

The third strategically important aspect for Bulgaria is its geographical location. "Our geographical position offers opportunities for the diversification of energy supply sources," Penkova pointed out.