Toshiba May Invest EUR 350 M in New Thermal Power Plant in Bulgaria

Bulgarian Economy Minister Traicho Traikov (left) and Japanese Ambassador to Bulgaria Makoto Ito (right) opened the rehabilitated unit 8 of the Maritsa East 2 TPP repaired by Toshiba 32 days ahead of schedule. Photo by BGNES

Japanese corporation Toshiba has declared interest in building two new thermal power facilities in Bulgaria's Maritsa East TPP complex, Economy Minister Traicho Traikov has announced.

Traikov was in the state-owned Maritsa East 2 plant on Monday with Japanese Ambassador to Bulgaria Makoto Ito where the two of them opened the rehabilitated unit 8 of the TPP, whose repairs were completed by Toshiba 32 days ahead of schedule. The life of the unit has been extended by 25 years.

The Economy Minister said a potential Japanese investment in a new TPP in Maritsa East would amount to EUR 350 M. In comparison, US energy giant AES has invested EUR 1.3 B in two new units of the AES-Galabovo TPP in Maritsa East, while Italy's Enel invested EUR 700 M in the rehabilitation of the Maritsa East 3 TPP that it is now selling.

He pointed out that the possibility to have Toshiba build two new units in the Maritsa East TPP with a combined capacity of 500 MW is "very attractive".

If realized, this would be Toshiba's second investment in Bulgaria's energy sector after at the end of January the Japanese corporation announced a project to invest EUR 37.6 M in a 10-MW solar park near Yambol during the visit of a Bulgarian state delegation in Japan.

Toshiba is also the main investor in the American energy giant Westinghouse, which has recently confirmed its interest in investments in the Bulgarian nuclear power plant Kozloduy.

There are several possibilities for investments in new coal-fired units in Bulgaria's Maritsa East TPP complex. According to Traikov, if the Toshiba investment is in the Maritsa East 2 TPP, it will be providing electricity at the lowest possible TPP price in Bulgaria.

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