Minister Certain about Attracting US Investors to Bulgaria's Energy

Bulgarian Economy Minister Traikov is confident that US firms will invest in Bulgaria's energy sector. Photo by BGNES

US companies have become interested in investing in Bulgarian energy projects, according Minister of Economy, Energy, and Tourism, Traicho Traikov.

Traikov spoke Tuesday at a forum in Sofia entitled “Energy Policy and Diversification”, organized by the Center for the Study of Democracy, and attended also by the US Ambassador to Bulgaria, James Warlick.

“During my visit to the USA in April I got the impression that we managed to spur interest for Bulgaria’s energy projects. We are already working on the realization of specific projects,” the Economy Minister explained.

Traikov mentioned he hoped an American state agency would fund a preliminary investment probe for the construction of a facility for used nuclear fuel and radioactive waste in Bulgaria, and pointed out that the US could help Bulgaria with the certification of fresh nuclear fuel for the Kozloduy Nuclear Power Plant.

“Bulgaria’s National Energy Strategy 2020 is currently being updated by the priorities are clear: diversification, energy efficiency, and green energy at an affordable price,” stated the Minister.

“The Bulgarian government is reviewing and restructuring its major economic projects in order to make them attractive for investors from Europe and North America,” Traikov explained.

He also said that on Wednesday the government will discuss the construction of a pipeline connecting the gas networks of Bulgaria and Greece, a project funded by the EU.

“We are among the most active participants in the Nabucco project, and we help to attract the interest of American companies in it,” the minister declared while pointing out that Bulgaria offered “excellent opportunities for investments in green energy, gas transit, and thermal power plants.

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