NEK betting big on energy storage
Four reservoirs under Bulgaria's National Electric Company (NEK) - Topolnitsa, Aleko, "Devin," and Studen Kladenets - will be equipped with energy storage systems. NEK has announced a tender worth 123.6 million levs (excluding VAT) to design, deliver, build, and implement battery storage solutions, targeting a minimum storage capacity of 280 MWh. This capacity will make NEK the largest operator of energy storage systems in the region, enhancing its role as a system balancer, complementing its existing pumped-storage hydropower plant at Chaira.
NEK plans to seek partial funding under Bulgaria's Recovery and Resilience Plan (RRP), but access to the funds is uncertain due to stalled reforms. The tender's tight deadline - from January 20 to February 6 - gives candidates less than a month to submit applications, with the selection focusing primarily on cost-effectiveness, battery efficiency, and delivery timelines.
Lukoil: Almost sanction free, but who will buy thee?
The latest U.S. sanctions targeting the Russian energy sector, imposed by outgoing President Joe Biden, have coincided with a pivotal moment in the sale of Lukoil's Bulgarian assets. Key contenders have emerged, including Azerbaijan's SOCAR, Hungary's MOL-backed by Prime Minister Viktor Orbán-and Kazakhstan's KazMunayGas, supported by trader Vitol. Additional offers involve Turkish firms like Cengiz and Oyak, and, potentially, American interests.
Compared to harsher measures against Gazprom Neft, the sanctions on Lukoil are relatively mild, affecting key executives such as Sergey Kochurov and the founder of Welltech, Yusuf Alekperov. Analysts suggest the sanctions might be challenged by incoming President Donald Trump, who has expressed skepticism about sanctions and pledged to de-escalate the Russia-Ukraine conflict. The sale of Lukoil's Bulgarian business, highly profitable in recent years, faces pressure from political mediation and market uncertainty, with these sanctions potentially accelerating or stalling the process.
Tackling railway incidents
Minister of Transport Grozdan Karadjov declared a zero-tolerance policy for accidents in railway transport following a meeting with key rail agencies and the National Board for Transport Accident Investigation. He emphasized that the recent freight train collision, which claimed two lives and injured six, marked a breaking point, citing severe violations of safety protocols as the primary cause.
Karadjov instructed officials to urgently study international safety systems that can function despite human errors, aiming to close safety gaps swiftly and effectively. He also announced a strict accountability policy, stating that individuals responsible for errors leading to accidents will face immediate dismissal. An example of such actions were the dismissals of the directors of the National Company Railway Infrastructure (NKZHI), Stoyan Stoyanov, and BDZ-Rail Transportation, Christian Krustev, late last week.
NEK betting big on energy storage
Four reservoirs under Bulgaria's National Electric Company (NEK) - Topolnitsa, Aleko, "Devin," and Studen Kladenets - will be equipped with energy storage systems. NEK has announced a tender worth 123.6 million levs (excluding VAT) to design, deliver, build, and implement battery storage solutions, targeting a minimum storage capacity of 280 MWh. This capacity will make NEK the largest operator of energy storage systems in the region, enhancing its role as a system balancer, complementing its existing pumped-storage hydropower plant at Chaira.
