Bulgaria: A loan for Energo-Pro

, SEE Energy News

Bulgarian electricity trader Energo-Pro Energy Services plans a loan from local UniCredit Bulbank. The planned loan is 23 million euros.

Energo-Pro Energy Services is a subsidiary of Czech energy company Energo-Pro, which also holds electricity distribution and supply companies in Bulgaria. The company will pledge as collateral current and future receivables from electricity supply contracts, estimated at 61.5 million euros per year. The loan has to be repaid by 30 July 2022.

According to the statement released by the Commission for Energy and Water Regulation (KEVR), even if Energo-Pro Energy Services fails to meet its obligations under the contract, the deal will not threaten the security of the local electricity market due to its competitive nature.