site.btaBulgaria Aims to Leverage Its Energy Resources for Domestic Value, Not Just Export, Says Energy Minister

Bulgaria’s ambition is not only to be an exporter of electricity but to ensure that this energy generates added value within the country, said Energy Minister Zhecho Stankov. He was speaking Tuesday during a discussion titled “Bulgaria – a Regional Hub for High-Tech Business, AI, Green Solutions & Innovation,” organized by the Norwegian-Bulgarian Chamber of Commerce and the American Chamber of Commerce in Bulgaria, the Energy Ministry reported.

According to Stankov, one of the key challenges facing AI gigafactories and data centers is the availability of large volumes of secure, affordable electricity. In response, the Government is planning major projects aimed at securing sufficient reliable and cost-effective energy, as well as storage infrastructure.

“With the projects included in our portfolio, we aim to ensure Bulgaria’s role as a regional hub in Southeast Europe,” Stankov stated. He noted efforts to restore the Chaira pumped storage hydro-power plant (PSHPP), which is expected to operate at 75% capacity by mid-2025, and the prospects for building four new PSHPPs. Bulgaria has applied for these to be recognized as Projects of Common Interest by the European Commission.

In addition, under the RESTORE procedure of the National Recovery and Resilience Plan, the country plans to build new battery systems with a total usable energy capacity of nearly 10,000 MWh.

These developments, combined with the planned expansion of the Kozloduy Nuclear Power Plant and the availability of nearby land suitable for data gigafactories, provide Bulgaria with an excellent opportunity to become a regional hub for high-tech business in Southeast Europe, the Minister noted. He also highlighted the Government’s commitment to providing full administrative support through dedicated teams for every investor interested in developing such projects in Bulgaria.

In an interview for Bulgarian National Television on May 28, Stankov confirmed that Bulgaria, through the National Electricity Company (NEK), has submitted documentation to the European Commission for the construction of four new PSHPPs on its territory.

Earlier, on May 16, NEK announced that the second hydro unit at the Chaira PSHPP had successfully passed state inspection and received Act 16 certification. The Commission confirmed that the rehabilitation was completed in full accordance with the project plan and in compliance with Bulgarian regulations.