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Bulgaria’s Decarbonization Leadership Strategy for the EU and the World
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This podcast is part of the Embassy Row Project’s International Infrastructure Development and Trade Diplomacy Series.
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Watch the National Press Club Briefing:
Bulgaria's National Decarbonization & Clean Energy Strategy, by Bogdan Bogdanov, Executive Director Invest Bulgaria Agency
“Bulgaria is the 3rd largest exporter of electricity in Europe, exporting around 33% of its domestic production,” explains James Scott executive director of the Eastern European Institute for Trade and founder of the NETZERO Incubator & Accelerator. Scott Continues, “Only 20% of this production comes from fossil fuels, with 45% coming from nuclear power, 30% from renewables, and 5% from hydroelectric power.” Over the next 7 years, Bulgaria’s goal is to further diversify its energy supply and increase the contribution of renewable energy sources to around 40%. To achieve this, Bulgaria has launched a “Green Bulgaria” initiative, a 2.6 billion euro initiative aimed at new energy projects, including 1.4GW of new renewable energy capacities, and the development of 6GWh of battery energy storage capacities and new geothermal resources for electric power generation and district heating.
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