World Bank to advise Bulgaria on the development of geothermal energy

The Acting Minister of Energy, Rosen Hristov and the Permanent Representative of the World Bank for Bulgaria, the Czech Republic and Slovakia, Lesech Melgaard, signed an agreement for the provision of consulting services for the development of geothermal energy in Bulgaria, BTA reports.

Over the next 24 months the World Bank will provide technical expertise based on global best practices and ideas for managing the country’s geothermal energy resources. The project is financed under the Recovery and Resilience Plan and is part of its implementation. 

The exploitation of geothermal energy will ensure the opening of new jobs and ensure a smooth transition to green energy. In just 8 months, we proved that our country can be a desirable and reliable partner in the energy sector by improving cooperation with institutions such as the World Bank and the European Bank for Reconstruction and Development

Rosen Hristov, Bulgarian Minister of Energy

The meeting also discussed the possibilities for cooperation in other areas of energy including the creation of a comprehensive energy strategy for the country, based on the already developed vision and supporting the economic development of the coal regions with a focus on green technologies and production, the Ministry of Education adds.

The World Bank team will provide analysis technical expertise and recommendations for the establishment and operation of geothermal laboratories and geothermal centers of excellence, including in several Bulgarian universities. As part of the partnership the financial institution will assist the ministry in identifying sites with good prospects for the use of geothermal energy, including for heating and cooling and electricity generation potential. 

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