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Intellinews Bulgaria Energy Report 2011
Emerging Markets Direct, Sep 2011, Pages: 36
The IntelliNews Bulgaria Energy Sector Report offers an extensive summary of the Bulgarian energy sector, segmented into electricity, thermal, water, gas, oil and renewable energy markets. It includes a complete coverage of the latest developments, trends and corporate news, accompanied by thorough statistics and comments.
This sector report is ideal to keep you abreast on recent company and industry news. Written by local professionals, it is a unique market and business intelligence analysis, tailored to save time by providing in-depth information, while helping you to make confident and informed business decisions.
Bulgaria raised the prices of electricity, natural gas and heating this year, with the last two occurring on July 1 and October 1, 2011.
In terms of investments, big projects are planned by the National Electricity Transmission Company (NEC), CEZ, EVN, AES, Rila Gas.
On the M&A market, Bulgaria launched the sale of the 33% state stakes in two subsidiaries of Czech company CEZ and two subsidiaries of Austria’s EVN in Bulgaria. Also, Austrian company EVN re-confirmed its interest in acquiring 70% of the project company, in charge of the construction of Gorna Arda. The government also decided to list its minority stake in E.ON Bulgaria on the Bulgarian Stock Exchange in Q1 2011. Also, Enel S.p.A.’s Dutch subsidiary Enel Investment Holding BV, has finalised the sale of the entire capital of the Netherlands–registered companies Maritsa East III Power Holding BV and Enel Maritsa O&M Holding Netherland BV, which own respectively 73% of the lignite-fuelled Maritsa East III power plant with an installed capacity of 908 MW and 73% of the share capital of Enel Operations Bulgaria, which is responsible for the operation and maintenance of the Maritsa plant. The government announced plans for public offering of minority stakes of Electricity System Operator (ESO) and coal-fired power plant Maritsa East II. Two acquisitions were also registered on the heating market - Worthford Ltd. Asked for antitrust approval to acquire Burgas Heating Utility, while Moller Corp. got permission to take over thermal power plant Brikel.
Significant development was observed also on the alternative energy segment with the plans for mainly wind and solar units, as well as cogeneration plants among others.
Developments were observed also on the nuclear power market, where the government is seeking ways to cut costs for the Belene nuke plant that is yet to be built, as well as to expand the operating life of the existing Kozloduy.
Bulgaria also works on its three major pipeline projects – South Stream, Nabucco and Burgas-Alexandroupolis, although it faces problems like rising costs, insufficient environmental impact assessments and political issues.
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