Southeastern European Countries Back Bulgarian Initiative for Improved Energy Interconnection at COP29
In a significant move to combat high electricity costs, a Bulgarian-led proposal aimed at enhancing energy interconnections in Southeastern Europe received broad support at COP29 in Baku on Wednesday. Initiated by Bulgarian Energy Minister Vladimir Malinov and endorsed by the leaders of eight countries, the project seeks to better integrate renewable energy sources and lower energy prices across the region.
The announcement was made at the Bulgarian pavilion, where Malinov, alongside Bulgarian President Rumen Radev and Greek Prime Minister Kyriakos Mitsotakis, outlined the benefits of the initiative. By upgrading existing power infrastructures, the initiative aims to facilitate the flow of affordable clean energy from Northern Europe’s wind farms and Egypt to Central Europe, thereby addressing current energy challenges and boosting sustainability.
The proposal garnered the backing of energy ministers from Greece, Romania, the Czech Republic, Italy, Belgium, and Moldova. Additionally, Hungary, which currently holds the Presidency of the Council of the EU, and host country Azerbaijan, also supported the initiative.
Romanian Energy Minister Sebastian Burduja emphasized the urgent need for such cooperation, citing the region’s struggle with soaring energy costs. He expressed solidarity, particularly with Hungary, which has been hit hard by high electricity prices.
In response to these developments, a follow-up meeting is slated to take place in Sofia in February. This gathering aims to further define the initiative’s objectives and explore additional opportunities for collaboration.
Highlighting the regional commitment to energy connectivity, Hungarian State Secretary Peter Sztaray referenced the vital Green Energy Corridor project, linking Central and Eastern Europe with the Caucasus, and potentially Central Asia, as a key element of ensuring energy security.
The energy cooperation was also strengthened by a newly signed memorandum between Bulgaria and Moldova, underscoring the region’s collective push towards an integrated and resilient European energy market.
