site.btaRenewable Energy Sources Play a Central Role in Transition to Low-carbon and Independent Energy, Says Expert

The production of electricity from renewable (RES) sources has a central role in the process of transition to low-carbon and independent energy, stated Miglena Stoilova, Chair of the Supervisory Board of the Bulgarian Wind Energy Association (BGWEA) and member of the Board of the National Energy Chamber. She was speaking at the regional conference on renewable energy RE-Source Southeast, which is being held in Sofia Tech Park.

Stoilova explained that in addition to being a major source of zero-emission electricity, RES are helping to achieve the decarbonisation targets. Also, renewable energy helps to achieve energy independence. She pointed out that electricity from wind, solar and water relies exclusively on local and directly available resources and overcomes the problems arising from dependence on energy supplies. In addition, renewable energy has the potential to significantly contribute to the competitiveness of the economy. Stoilova pointed out that the price of electricity from renewable sources is currently several times lower than electricity, which relies on imported energy sources and is carbon-intensive.

Demand from corporate and industrial consumers for renewable electricity under long-term contracts has been "gaining momentum" in recent years to meet the problems of predictability and stability of electricity prices and, on the other hand, to achieve corporate carbon footprint reduction targets. At present, bilateral contracts have been signed in Europe for the supply of renewable energy for 26 gigawatts of power, Stoilova said.

The BGWEA Chair explained that accelerating the construction of renewable energy sources requires legislative and regulatory changes to ease the permitting regime, as well as adaptation and modernization of the electricity network. The market for balancing energy must be developed and electricity storage systems must be built, Stoilova added.