Bulgaria is aiming to strengthen its position in the regional energy market, with a strong focus on nuclear power, according to Energy Minister Zhecho Stankov. Speaking at a Bulgarian-Korean energy forum designed to enhance the competitiveness of the Bulgarian economy, Stankov highlighted the country’s long-standing commitment to nuclear energy, supported by 70% of the population.

The Minister reiterated that Bulgaria plans to build two new nuclear units, stressing that the initiative is crucial for the nation’s energy security. “We cannot pursue these projects alone, which is why we are collaborating with companies from South Korea. I hope the final investment decision will be made next year,” he said. Stankov also noted the potential for small modular reactors, suggesting Bulgaria could participate even as a minority investor in developing and implementing these technologies domestically.

Drawing lessons from recent blackouts in Spain and Portugal, the Minister explained that Sofia has prioritized energy storage solutions and advanced accumulators. He stressed that bridging different energy technologies is essential, envisioning Bulgaria as a balancing power for the Balkans, supporting countries from Greece and Serbia to Romania and Hungary.

Finally, Stankov underscored that the government is moving ahead with comprehensive reforms in the energy sector. Alongside the large-scale nuclear projects in Kozloduy, smaller, fast-track initiatives are also planned to ensure rapid implementation and regional energy stability.