EVN Confirms Talks for Majority Stake in Bulgaria Thermal Plant

Energy | July 22, 2010, Thursday // 12:04|  views

Talks about the sale of Maritsa East 3, a Bulgarian coal-fired plant with a capacity of 908 megawatts, emerged for the first time at the beginning of March. Photo by klassa.bg

Austria's utility EVN has confirmed it is holding talks for the acquisition of a majority stake in Bulgaria’s Maritsa East 3 coal-fired power plant.

The Executive Director of Italy energy giant Enel, Fulvio Conti, announced in March that the company is considering the sale of its 73% stake in Maritsa East 3.

“Enel is currently holding talks with many companies and EVN is just one of them,” a spokesman for the Austrian company said.

British utility International Power, US power producer AES Corp. and Russia's state power trader Inter RAO are also said to have shown interest in acquiring Enel majority stake in Maritsa East 3.

A year ago Enel increased the capacity of Maritsa East Three plant to 908 megawatts, up from 840 MW, and also put new desulphurisation installations on the plant's four units.

Experts comment that the potential buyer is probably eying a 100% stake in the plant, in which the state owns a 27% stake. The rumors were fanned by a statement of Energy and Economy Minister Traicho Traikov, who recently announced that the state can land EUR 200 M from the sale of its stake in the plant.

The plant is located in the Maritsa East lignite coal mining complex in southern Bulgaria.

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Tags: Fulvio Conti, Alpine Bau, International Power, Enel, Maritsa East 3, EVN, Maritsa East 1, AES, Inter Rao


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