Power company AES Bulgaria has signed a non-binding memorandum of understanding (MoU) with the Bulgarian ministry of energy to assist the country in its decarbonisation transition.

The company will collaborate and assist the country to achieve its goals in the European Green Deal for 2030 and 2050 by providing AES affiliates’ knowledge and experience in innovative technologies and their market integration

Moreover, AES Bulgaria will explore the development of a co-located project with 100MW of solar PV and battery energy storage system (BESS) as well as a stand-alone BESS project of 80MWh near Sofia, contributing to the grid’s security.

Along with the MoU, the power purchase agreement (PPA) signed between AES Bulgaria and Natsionalna Elektricheska Kompania EAD as off-taker of the 600MW thermal plant will be fulfilled until its expiry in May 2026 without the possibility to extend it.

Olivier Marquette, President of AES Bulgaria, said: “As a global technology leader and a pioneer in innovative green technologies, The AES Corporation embraces its mission to lead the energy transformation, accelerate the deployment of new solutions and products across the region and help all markets where we operate to become more sustainable.”

Last week, AES Corporation began investigating the cause of a fire at a 10MW BESS site it owns and operates in the US state of Arizona.