Envoy: Bulgaria may significantly increase Black Sea Energy project value

Bulgaria is interested in cooperation on the Black Sea Energy undersea electric cable project, which provides for the transfer of “green energy” from the Caspian Sea to Europe, Ambassador of Bulgaria to Georgia Vesselin Valkanov told Report.

“We have stated our interest in being part of it and are satisfied with the positive response we have received from the four parties [Azerbaijan, Georgia, Romania and Hungary]. Bulgaria can add substantial value to the project through our electrical grid, high capacity interconnection with neighboring countries, well-developed electricity market, capacity to invest in renewable projects and growing demand for green energy,” he said.

The ambassador noted that an important factor contributing to these endeavors are the friendly relations that Bulgaria has developed with all the countries of the South Caucasus, primarily with Azerbaijan.

“Bulgaria is keen on developing further the infrastructure connectivity between Europe and Asia, between both stores of the Black sea. Especially deepening cooperation through projects of common interest in the field of energy, transport and communications,” Valkanov added.

The diplomat said the undersea cable is just one of many opportunities to influence efforts to achieve climate goals and make development truly sustainable.

“Everyone should be more engaged and with a cooperative mindset. There is the potential and I am confident that an active and positive approach in the not-so-long term would pay off in terms of improved environment, higher energy security and better life for our citizens,” he emphasized.