Bulgarian investor set to acquire ContourGlobal Maritsa East 3 TPP

The US-owned ContourGlobal Maritsa East 3 thermal power plant is in the process of being sold to a Bulgarian investor, Energy Minister Iva Petrova told the Bulgarian National Radio (BNR). The deal has not yet been finalised.

At the same time, the state is restructuring the Maritsa East complex. The new holding company will bring together the state-owned coal mines, the Maritsa East 2 TPP and the company responsible for the reclamation of mined land.

The most pressing economic issue remains the future of around 6,000 mine workers. Planned annual coal production of 14-15 million tonnes is nearly half the amount needed for the mines to operate profitably, BNR Stara Zagora reported. Some of the workers are expected to be reassigned to land reclamation. The state is also planning new investments in photovoltaic installations, battery storage and a facility for generating electricity from wood chips, with decisions on the future of the complex expected within the next two to three months.

Edited by Miglena Ivanova