2024-07-22 20:40:10
USTDA will grant grant funding for the feasibility study for the construction of an East-West Energy Corridor
The United States Trade and Development Agency (USTDA) will grant grant funding for the East-West Energy Corridor Feasibility Study. An agreement to this effect was signed today in the Council of Ministers by the executive directors of USTDA and “Electricity System Operator” EAD Eno Ebong and Angelin Tsachev, in the presence of the US Ambassador to Bulgaria HE Kenneth Merten, Prime Minister Dimitar Glavchev and Minister of Energy Vladimir Malinov. announced by the Council of Ministers.
“For us, cooperation with the United States Trade and Development Agency is key to the successful implementation of the green transformation,” Prime Minister Glavchev pointed out during the ceremony. According to him, our partnership with USTDA is a serious factor in improving the electricity transmission infrastructure and energy security not only in our country, but also in the entire region of Southeast Europe. Prime Minister Glavchev noted that the involvement of an institution of the rank of USTDA is a litmus test for the perspective and sustainable future of the projects we are working on.
US Ambassador to Bulgaria Kenneth Merten welcomed the feasibility study, saying: “This project will help improve system efficiency, reduce costs for consumers and companies, help integrate renewable energy generation and distribution, and help reduce carbon and other emissions. This is an important step towards a greener future for Bulgaria and the region.”
“This partnership with ESO will contribute to Bulgaria’s renewable energy, climate and economic ambitions and catalyze benefits for the whole of Europe. By leveraging U.S. technology, USTDA’s commitment will help mitigate the climate crisis by supporting Bulgaria’s goals to decarbonize its energy sector and provide additional capacity for renewable energy resources,” said the director of the U.S. Trade and Development Agency. Mrs. Eno Ebong.
“The project for the construction of an East-West energy corridor, initiated by ESO EAD, will help to increase energy security in the region”, highlighted the Minister of Energy Vladimir Malinov. According to him, this is another key step for the transformation of the Bulgarian energy industry, which will enable the connection of more RES capacities to the network, increasing its capacity. Minister Malinov expressed his satisfaction with working with a reliable and full-fledged partner such as USTDA, whose expertise and professionalism are an indisputable asset for the development of the Bulgarian energy industry.
The East-West Energy Corridor project will connect the power grids of Turkey, Bulgaria, Greece, North Macedonia, Kosovo, Albania and Montenegro, with the possibility of reaching Italy. Within the pre-project study worth 1.5 million dollars, an economic and technical analysis of the need to expand the electricity transmission infrastructure and increase the cross-border transmission capacity between Bulgaria and the neighboring countries Turkey, Greece, North Macedonia and Romania with a minimum of 2000 MW will be prepared. at each border. This will provide an opportunity for real-time exchange of energy produced from renewable sources in the region. Plans for the construction of two new pumped-storage hydroelectric power plants in our country and their connection to the power grid will also be analyzed. The initiative is key to the efficient utilization of green energy to cover peak consumption in South-Eastern Europe.