KInsights Special Report: The Energy Future of Bulgaria

KInsights Special Report: The Energy Future of Bulgaria

What's next for the energy sector of the country in this threshold moment of history

© KInsights


In recent months, the dynamics in the energy sector have certainly outstripped the technology sector. Prices of basic products change frequently in a matter of days, supplies are uncertain, huge funds are directed from traditional to alternative energy independence projects, and the whole geopolitical framework is changing.

This is absolutely atypical for energy, where everything used to happen gradually - historically projects happen slowly, against significant investments and there are many regulations that are difficult to change, etc.

In Bulgaria, these processes have generally been even more pronounced. Until the end of April, the country was almost completely dependent on Russian natural gas supplies and is now completely independent of Gazprom. This change caused not only economic but also political turmoil, as Russian influence is measured in terms of energy.

But this is only a part of the changes. The gas interconnector between Bulgaria and Greece will be launched in a few months, a drastic increase in LNG imports is expected, regional gas purchases are planned, and projects to expand the gas storage in Chiren and the gas connection with Serbia are underway.

At the same time, gas and electricity prices have been extremely high for months. This makes businesses look for alternatives. And one possibility is investing in their own RES capacities. Solar panels on roofs of offices and enterprises can replace 30% -40% -50% or even more of consumed electricity. There are already hundreds of such examples.

Meanwhile, investments in large solar and wind power plants, which have not been seen in the last decade, are developing. Even in the next year or two, there may be a real boom in new capacity, which will further change the energy sector not only in Bulgaria but also in the region as a whole.

In recent months, the dynamics in the energy sector have certainly outstripped the technology sector. Prices of basic products change frequently in a matter of days, supplies are uncertain, huge funds are directed from traditional to alternative energy independence projects, and the whole geopolitical framework is changing.

This is absolutely atypical for energy, where everything used to happen gradually - historically projects happen slowly, against significant investments and there are many regulations that are difficult to change, etc.

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