site.btaBulgaria Aims to Lead in Small Modular Reactors, Says Energy Minister

Bulgaria’s favourable geographical location and unique energy mix determine its leading role in Southeastern Europe’s energy sector, said Energy Minister Zhecho Stankov, as quoted by his Ministry. Speaking Tuesday at the opening of a Sofia round table on accelerated energy transition, policies and innovations for sustainable development by 2040, Stankov noted that these advantages give the country strong potential to be among the first to explore small modular reactors (SMRs).

Stankov recalled that back in 2015, SMR technology sounded exotic, but today Bulgaria aspires to be at the forefront of its exploration and deployment. On September 16, Stankov and U.S. Energy Secretary Chris Wright signed a joint statement providing that one of the 12 laboratories of the U.S. Department of Energy will assist Bulgaria in selecting a site for such technology. Several European countries, including the Czech Republic and Poland, have already declared interest in building SMRs, Stankov noted. He also shared impressions from a recent visit to a site in Ontario, Canada, where four such projects are under construction.

For the effectiveness of Bulgaria’s energy mix, continuous work is needed on new capacities and investment attraction, the Minister stressed. The most important project for the national economy is the construction of Units 7 and 8 of the Kozloduy Nuclear Power Plant, which are set as a top priority in the government’s energy programme. These will guarantee the country’s energy security and cement its role as a key regional player. According to Stankov, leading banks from the U.S. and South Korea have already expressed financial support for the project, and a financial adviser has been selected.

Projects for energy storage complement the vision for the sector’s development in line with environmental challenges and the need to reduce the negative impact of price volatility.

The government also plans to build four new pumped-storage hydropower plants (PSHPP), Stankov said. Additional hydro facilities under the Yadenitsa project will enable the Chaira PSHPP to switch to 24-hour operation.

Stankov stressed the need to improve network connectivity so that the country can serve as a reliable regional balancer. He underscored the importance of the East-West and North-South corridors, as well as the Vertical Gas Corridor, which will enhance interconnections and support diversification of supplies in the region.