The Energy Minister Zhecho Stankov strengthens the partnership with Norway and Germany for a green transition.

During his visit to Oslo, the Minister of Energy Zhecho Stankov held a bilateral meeting with his Norwegian counterpart Terje Aasland. The main topics of the conversation were renewable energy sources, energy efficiency, carbon capture and storage (CCS) technologies, as well as the continuation of successful ties within the Norwegian Financial Mechanism.

Minister Stankov emphasized that Bulgaria has the strategic potential to become an energy bridge for the Balkans, ensuring greater regional connectivity and security of supply. In this context, the project for the construction of four new pumped-storage hydroelectric power plants (PSHPP) was also discussed as an opportunity for sustainable development. The Bulgarian Minister highlighted the favorable conditions in the country for foreign investors and invited the Norwegian side to invest in new energy capacities.

The possibilities for exchange of experience with Norway in the field of carbon dioxide capture and storage were also discussed, with a focus on building long-term partnerships in the decarbonization process. Minister Stankov highly appreciated the projects implemented so far under the Norwegian Financial Mechanism in Bulgaria and expressed confidence that the bilateral cooperation will develop even more actively in the coming years.

During his working visit to Norway, the Minister of Energy Zhecho Stankov held a meeting with representatives of the German company Heidelberg Materials. The challenges related to the price of electricity and possible solutions for industrial consumers were discussed. Among the measures considered were the installation of energy storage batteries and the possibility of building PSHPP to support the flexibility and security of the energy system.

Minister Stankov emphasized the importance of energy connectivity at both the national and regional level as a key element for sustainable development and stable supplies. He identified Heidelberg Materials as a potential strategic investor and expressed readiness for active institutional support in the implementation of future projects in the country.