Enel to Sell Bulgarian TPP Stake to Russian Inter RAO

The Italian power utility Enel has negotiated with Russia's Inter RAO about possibly selling their majority stake in the Bulgarian Maritsa 3 TPP, according to Wall Street Journal.

"Enel considers Inter RAO a potential buyer," the spokesman for Enel in Russia has told MF-Dow Jones, confirming a news report by RIA Novosti.

The stake in the Bulgarian thermal power plant that Enel plans to sell is 73% . The company will reportedly receive EUR 400 M for the deal.

Contrary to RIA Novosti's report, the Enel spokesman has said the utility is interested in selling its stake in exchange for cash and not for assets.

Enel Maritsa East 3 TPP is one of the three large power plants in the Maritza East Power Complex all of which are supplied with locally mined lignite from the Maritsa East Mines. The Power Plant is situated in South Central Bulgaria.

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