Renewables

AES Bulgaria to look into developing solar, energy storage projects

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Photo: Skitterphoto from Pixabay

Published

May 5, 2022

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Published:

May 5, 2022

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AES Bulgaria will explore options for developing a combined 100 MW solar power and battery energy storage project, as well as a standalone 80 MW battery storage project near the capital Sofia to support the electricity grid.

AES Bulgaria, part of global energy company AES Corporation, is the largest investor in the Bulgarian electricity sector in the past 30 years. It owns and operates the newest and most modern thermal power plant in Bulgaria and Southeastern Europe – TPP AES Galabovo, and is the majority owner and operator of Bulgaria’s largest wind farm – St. Nicholas, near Kavarna, according to local media.

The company operates the country’s newest coal-fired power plant as well as the biggest wind farm

The research into the potential solar power and energy storage projects will be carried out under a memorandum of understanding (MoU) with the Ministry of Energy. The non-binding document was signed by AES Bulgaria CEO Ivan Tsankov and Minister of Energy Alexander Nikolov.

Under the MoU, the company commits itself to assist Bulgaria in its efforts aimed towards decarbonizing the energy sector and achieving the goals of the European Green Deal for 2030 and 2050, the ministry said.

Bulgaria has recently announced it will set up a state-owned firm to develop a battery energy storage network to balance electricity produced from renewable sources, with a total capacity of 6 GW.

AES Bulgaria will also seek to start using natural gas or renewable fuels at its coal-fired power plant AES Galabovo after 2026

The MoU between AES Bulgaria and the Ministry of Energy also notes that the company’s existing power purchase agreement with state-owned power utility EAD will not be renewed beyond May 2026. In this context, the company will explore options for its AES Galabovo thermal power plant to switch to natural gas, hydrogen, biomass, or fuel produced from solid waste following the expiry of the agreement.

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