“ContourGlobal Maritsa East 3” TPP is Supporting the Energy System in the Transition to a Low-carbon Economy

“AmCham’s Energy and Mineral Resources Committee is currently presenting an effective report to a large number of stakeholders to disseminate a credible analysis that can serve as a basis for the development of the Bulgarian decarbonization strategy. Our goal is to support institutions in developing and advocating for a sustainable energy policy that provides reliable and clean energy at a fair price.”, this was said by Lilia Chobanova, Commercial Manager of ContourGlobal Maritsa East 3, in an interview for Investor.bg.

Lilia Chobanova underlined the importance of AmCham’s work which has brought together more than 300 American and international companies that include both producers and consumers of electricity, i.e. companies that have a strong interest in the state of the energy sector.

“The Chamber has traditionally been highly engaged in issues affecting the business environment and strives to be constructive in its interactions with government and stakeholders.”, also said ContourGlobal Maritsa East 3’s commercial manager.

Moreover, she highlights the importance of the topic, and the two major parts of the development of the scenario for decarbonization by 2050, for which the internationally renowned consultancy Compass Lexecon has been engaged to prepare an analysis for means of Bulgaria’s electricity system by 2050.

Lilia Chobanova stresses, ‘Our goal is to support institutions in developing and advocating for a sustainable energy policy that provides reliable and clean energy at a fair price.’

Talking about the scenario, Chobanova states that there are three possible ways of its development:
  • Commitments under the 2020 Integrated National Energy and Climate Plan (INECP), which is a reference and serves as a comparison with the other two. Due to the increased decarbonization ambitions from 2019 onwards, which have largely developed since the NEEAP was developed, this scenario falls short of the current decarbonization targets – the carbon reduction by 2030 is around 40% compared to 1990.
  • The ambitious scenario builds on the increased decarbonization targets of the Fit for 55 package and the EU Climate Law, which make it mandatory to achieve at least a 55% reduction in EU carbon emissions by 2030 compared to 1990 and climate neutrality by 2050. This scenario sees a much faster expansion of renewables capacity already in the current decade and a much faster reduction of emissions, by 88% by 2030. Some coal capacity remains available until 2030 for the security of supply.
  • The alternative scenario allows for a smooth transition at the lowest possible cost by combining assumptions from the other two scenarios. In this scenario, electricity generation is optimized to achieve 55% emission reductions by 2030 and full decarbonization by 2050.

The project was supported by the members of the Chamber – ContourGlobal, AES, America for Bulgaria Foundation, Asarel Medet, Dundee Precious Metals, Enery, EVN Bulgaria, Geotechmin, Glavbolgarstroy, Overgas, ING, Schneider Electric, Westinghouse.