AES Bulgaria will explore options to develop a combined 100 MW solar and battery energy storage project, as well as an 80 MW stand-alone battery storage project near the capital Sofia to support the electricity grid.
AES Bulgaria, part of the global energy company AES Corporation, is the largest investor in the Bulgarian electricity sector over the past 30 years. It owns and operates the newest and most modern thermal power plant in Bulgaria and South East Europe – TPP AES Galabovo, and is the majority owner and operator of the largest wind farm in Bulgaria – St. Nicholas, near Kavarna, according to local media.
The company operates the country’s newest coal-fired power plant as well as the largest wind farm
Research into potential solar power and energy storage projects will be conducted under a memorandum of understanding with the Department of Energy. The non-binding document was signed by AES Bulgaria CEO Ivan Tsankov and Energy Minister Alexander Nikolov.
As part of the MoU, the company pledges to help Bulgaria in its efforts to decarbonize the energy sector and meet the European Green Deal targets for 2030 and 2050, the ministry said.
Bulgaria recently announced that it will set up a public company 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 AES Galabovo coal-fired power plant after 2026.
The MoU between AES Bulgaria and the Ministry of Energy also states that the existing power purchase agreement between the company and the electricity utility EAD will not be renewed beyond May 2026. In this context, the company will explore options for its AES Galabovo thermal power plant. switch to natural gas, hydrogen, biomass or fuel produced from solid waste after the agreement expires.