A Bulgarian-led initiative to deliver down electrical energy costs by enhancing vitality interconnection within the area of southeastern Europe was backed by eight international locations at COP29 in Baku on Wednesday (13 November).
The undertaking was introduced by Bulgarian vitality minister Vladimir Malinov, within the presence of the President of Bulgaria, Rumen Radev, and the Prime Minister of the Hellenic Republic, Kyriakos Mitsotakis.
The occasion came about on the Bulgarian pavilion at COP29 in Baku.
Malinov stated that data trade between regional companions is “one of many key components” to develop energy techniques which may deal with “the trendy challenges of integrating renewable vitality.”
Upgrading present vitality connections will enable low cost clear vitality from the wind farms of Northern Europe to succeed in decrease latitudes, the minister stated. He added that that enhancing vitality connections can even enable for the supply of fresh vitality from Egypt to central Europe.
The non-paper tabled by Malinov obtained the help of the vitality ministers of Greece, Romania, the Czech Republic, Italy, Belgium, and Moldova, in addition to Hungary, which holds the rotating Presidency of the Council of the EU, and Azerbaijan as host of COP29.
“By this casual doc, you could have raised a vital concern,” stated the Romanian Power Minister Sebastian Burduja.
He added: “We’re all on the identical aspect, in the identical group. You do not have to look very far. Simply take a look at the vitality worth map in the present day. I’m notably sympathetic to Hungary, which is the European champion of excessive costs,” the minister stated.
Latest excessive energy costs in southeastern Europe have prompted international locations within the area to name for motion.
Sofia to host follow-up assembly
“Our imaginative and prescient is to carry a sequence of technical and political structured dialogues (…) over the approaching months” stated Malinov, who added {that a} February assembly in Sofia will outline the scope of dialogue and determine the place the initiative might be taken additional.
“For Hungary, the Bulgarian initiative is essential as a result of it’s a image of constructing connectivity between our international locations”, stated the Hungarian State Secretary for Safety Coverage and Power Safety, Peter Sztaray.
On this regard, he drew consideration to one of many essential initiatives by which Hungary is taking part, and Bulgaria is becoming a member of – the Inexperienced Power Hall, along with Azerbaijan, Romania, Georgia, Hungary.
“This can be a crucial undertaking as a result of it connects Central and Japanese Europe with the Caucasus area and maybe later with Central Asia. We have to implement it, as a result of in any other case we is not going to survive. But when we need to survive and have vitality safety, then we should cooperate,” Sztaray stated.
Victor Parlicov, Minister of Power of Moldova, who was additionally current on the launch, emphasised that his nation’s objective is to grow to be a part of the European vitality market earlier than becoming a member of the EU.
He recalled the issues with vitality provides attributable to the battle in Ukraine.
“The nation in the present day must import electrical energy within the quantity by which it exported earlier than the battle,” he stated. Earlier within the day, the vitality ministers of Bulgaria and Moldova signed a memorandum on vitality cooperation and mutual help.
In October, twelve EU member states known as on the European Fee to help the creation of cross-border vitality hyperlinks, particularly electrical energy interconnections, to scale back vitality costs within the EU.
[Edited by Donagh Cagney/Owen Morgan]