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From Bulgaria
03.11.2011 14:31
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- Bulgarian ministers of energy (Traicho Traikov) and labor (Totyu Mladenov) attended the official event
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- Joseph Brandt, CEO of ContourGlobal (left), and Garry Levesley, CEO of TPP ContourGlobal Maritsa East 3
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- The plant's new name is TPP "ContourGlobal Maritsa East 3"
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The Bulgarian thermal power plant Maritsa East 3, acquired by the US-based fund ContourGlobal, is the largest single capacity of the company, announced its CEO Joseph Brandt today. Garry Levesley, CEO of TPP ContourGlobal Maritsa East 3 and former vice-president of AES announced that the plant’s main priority will be to integrate smoothly into the company’s structure. Also an investment of about 13 million EUR is planned for 2012 mainly for environmental and safety measures. The coal power plant in Southeastern Bulgaria was sold by the Italian company Enel as part of its debt-deminishing measures after the acquisition of the Spanish energy company Endesa.
Joseph Brandt announced that the company plans developing its investment in the plant, and this also includes feasibility study for constructing an additional fifth unit, if this is economically viable. The company has interests in the integrating energy markets of Southeast Europe and in Turkey, Brand added, having in mind the inclusion of the country in the ENTSO-E area.
Garry Levesley added that the investments in 2012 will be directed toward diminishing NOx emissions and for improving the dust electric filters. Also a renovation of unit 4 is scheduled.
The Bulgarian energy minister Traicho Traikov added, that every new investor is good news for Bulgaria, and usually a new investor always comes with a higher motivation than the older one. He said that Bulgaria has to balance its energy mix in the coming years, and while supporting new and renewable sources it also has to count on proven technologies as the local lignite coal.
Mihail Andonov, CEO of Bulgarian state-owned energy company NEK, a minority shareholder with 27%, added, that he will be glad to work with ContourGlobal. Andonov added that NEK itself does not have spare funds for new investments, but considers building gas-fired, wind, and solar capacities in the coming years. Some funds may be collected through sales of unoperational assets as unoccupied land and unfinished construction sites that are obsolete according to the developed ten-year network development plan of the transmission company, he added.
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