Bulgaria's strategic geographic location and well-developed energy sector make it a key European energy centre despite its lack of significant fossil fuel deposits. Thermal power plants generate 48.9% of electricity, followed by nuclear power from the Kozloduy reactors (34.8%) and renewable sources (16.3%). Equipment for a second nuclear power station at Belene has been acquired, but the fate of the project remains uncertain. Installed capacity amounts to 12,668 MW, allowing Bulgaria to exceed domestic demand and export energy.