Krassimir Nenov, Co-Chair of the “EU Green Deal” WG: The Investment Climate is a Major Challenge for the Green Transition in Europe

Krassimir Nenov, Executive Director of ContourGlobal Maritsa East 3 and Co-Chair of the “EU Green Deal” Working Group at AmCham Bulgaria spoke before Bloomberg TV Bulgaria hosted by Veronika Denizova, PhD.

“We need a clear strategy based on the expected power consumption, to reflect the existing technologies, and the cost of finding new technological solution. Unifying those analyses should give such a solution, that is the most cost-effective for the end consumers,” he commented the future of the energy sector of Bulgaria.

The power plants of the Maritsa East Basin provide 40% of the total annual consumption of electricity in Bulgaria. The private investors at “Maritsa East” work hard to find sustainable solution of carbon capture and sequestration in order to meet the EU decarbonization requirements.

“The solutions we seek must be at the lowest possible cost to society, combined with the country’s energy independence and social elements such as jobs in the region”, Krassimir Nenov added.

The public funds that will be invested in the transition to greener production must also generate private investment, without which this transition cannot happen, Nenov outlined. According to him, the investment climate is a major challenge for the green transition in Europe, as investors in such industries and sectors are looking for a long horizon of action.

Watch the full interview here in Bulgaria.

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