IP3 signs Memorandum of Understanding to support low-carbon energy solutions in Bulgaria
31 March 2022
U.S.-based IP3 Corporation entered into a memorandum of understanding (MOU) with Gemcorp Holdings Limited and Bulgaria's energy ministry to pursue clean, green energy projects for the production of hydrogen and other industrial processes.
This effort will develop Bulgaria's innovative commercial plan to ensure the energy sovereignty needed to serve its baseload and industrial needs.
The relationship will involve collaboration to lead the transition for energy generation options in the region. Gemcorp and IP3 will provide project development, financial structuring, and funding solutions in a phased approach. The MOU addresses inception, development, financing, and operations that will attract private capital and cutting-edge energy companies to Bulgaria.
"The Government of Bulgaria has developed a plan for their energy future. They are ready to harness new technologies such as hydrogen, renewables and hybrid nuclear systems and their smart energy transition can become a role model for all the Three Seas Initiative countries," explained former U.S. ambassador to Poland and IP3 board member, Georgette Mosbacher.
Bulgaria's long-term energy security outlook benefits from a plan to drive innovation for a comprehensive approach that includes renewables, hydrogen, biogas and other applications.
Related
-
Algeria awards $500mln steel deal to Chinese firm
6 June 2025
-
Comfily Hong Kong to establish $20mln integrated industrial complex in Egypt
6 June 2025
-
EIB to provide €400m loan for Stockholm metro expansion
6 June 2025
-
Barrick seeks World Bank arbitration on government takeover of Mali mine
5 June 2025
-
Hassan Allam-Metito JV awarded Alexandria West WWTP expansion in Egypt
5 June 2025
-
PKKP and Rio Tinto sign co-management deal for iron ore operations
5 June 2025