Toshiba Corporation and Bulgaria's Bulgarian Energy Holding EAD (BEH EAD) yesterday signed an agreement to discuss further developing cooperation in energy generation, including solar photovoltaic power, thermal power, and hydro power, and increasing efficiency of power transmission and distribution through the development of smart grids.

The agreement was signed in the presence of Bulgaria's Minister of Economy, Energy and Tourism Mr. Traicho Traikov, who is in Japan with a Bulgarian delegation led by the Prime Minister.

Toshiba has confirmed that the company will be building a 10 MW photovoltaic park near Bulgaria's Yambol. The cost of the park is estimated at EUR 37.6 million, and it will deliver electricity to 2000 households. Traikov has praised the project near Yambol even though it ended up being much smaller compared to the media reports.

"This Japanese company is a first class investor, which is a good sign for Bulgaria and our desire to see a boost of foreign direct investment in 2011," stated Traikov. The Toshiba solar plant near Yambol will help Bulgaria in achieving its target of generating 16 percent power from renewable energy by 2020, he added.

Japan has experience of investing in Bulgaria’s renewable energy sector. The 35MW Kaliakra Wind Power park was built by Mitsubishi Heavy industries

The wider-scale project offered by Toshiba, however, focuses on developing "smart grids" and introducing electric cars that use renewable energy sources, the Bulgarian Economy Ministry announced.

"This is totally in line with Bulgaria's desire to develop renewable energy and the introduction of electric cars. To do all that, we need the proper infrastructure managed by intelligent or "smart" electric grids. Unlike the existing grids, with smart grids, electricity is not only transmitted from a power plant in all directions but it can be moved from the source to the consumer and from the consumer to the source," he explained.

According to Traikov, Bulgaria would not require new power plants if up to 20 percent of its cars were electric.

"When you have 20 percent of cars running on electricity, you can use them as a huge battery. You know, the greatest problem with electricity is that it cannot be preserved. When you have so many electric cars, you can charge them when there is a lot of cheap electricity, and then send electricity back into the grid when energy is expensive," he said explaining that smart grids would require major investments in equipment, know-how, and management.

http://www.toshiba.co.jp/about/press/2011_01/pr2401.htm

http://www.novinite.com/view_news.php?id=124495

© smartmeters.com. No Reproduction without permission.