Bulgaria capitals

Bulgaria signs MoU with IP3 Corp, Gemcorp Capital Management on energy projects

SOFIA (Bulgaria), March 23 (SeeNews) – Bulgaria’s energy minister on Wednesday signed memorandums of understanding with London-based emerging markets asset manager Gemcorp Capital Management and US nuclear technology developer IP3 Corporation on energy projects which should unlock investments of around 1 billion dollars (911 million euros), according to the Ministry of Energy.

According to the agreements, the parties will work together on the planning and development of clean energy, alternative and strategic gas supply, energy security and nuclear energy projects, the ministry said in a statement.

The partnership plans to ensure alternative, stable and affordable gas supplies to Bulgaria, improve regional energy security, protection of critical infrastructure and the development of low-carbon technologies to foster the green energy transition.

In light of continued Russian aggression in Ukraine, the Bulgarian government has explored ways to wean Bulgaria from its near-total dependence on Russian gas imports to meet its energy needs.

Other areas of strategic cooperation covered by the protocols include the study of options for the construction of a hybrid industrial complex at the Maritsa East thermal complex in Bulgaria as well as the development of sustainable plans for the use and management of nuclear fuel. .

($ = 0.9103 euros)

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