January 19 (SeeNews) - Bulgaria and Greece signed a memorandum of understanding (MoU) to strengthen cooperation in increasing the transmission capacity of their electricity and gas networks, building hydrogen transmission networks and tapping the potential of renewable energy sources, the energy ministry in Sofia said.
The two countries will work together to advance renewable energy and hydrogen technologies and build cross-border infrastructure for energy generation, transmission and consumption, the Bulgarian energy ministry said in a press release on Thursday.
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The memorandum also seeks to promote the digitalisation of electricity networks and flexibility in the management and balancing the two countries' electricity systems. Another key objective is to develop projects that facilitate a just transition to a decarbonised and climate-neutral economy.
The MoU has a term of three years, with the possibility of extension.
Last February, Bulgaria and Greece signed two memoranda of understanding to look into possibilities for the construction of an oil pipeline across their border as well as to ensure the delivery and storage of natural gas.