Bulgaria: Acquisition of PVB Power

, SEE Energy News

The acquisition of PVB Power Bulgaria, the operator of five small hydropower plants on the Iskar river, with combined installed capacity of 15.5 MW was completed by French renewable energy company Akuo Energy. The statement from the company said that this transaction strengthens Akuo Energy’s presence in Bulgaria, where the company already owns four HPPs with a total installed capacity of 63 MW and also reflects Akuo’s intention of accelerating its active role on the deregulated energy market over the coming years. With its portfolio of nine HPPs, Akuo Energy saves 35,000 tons of carbon dioxide emissions and provides electricity for more than 20,000 households.

In 2018, Akuo Energy acquired Bulgarian company Central Hidroelectric, which operates four hydropower plants with combined installed capacity of 63 MW, from EDF. Akuo Energy is present in the region since 2010. The company has facilities in Montenegro, Croatia and Ukraine, as well as developing projects in Greece and Serbia. Currently, it manages wind, solar and biomass power plants in the region, and the Bulgarian hydro acquisition would broaden the company’s RES portfolio.

As of the end 2020, the company had invested more than 2.6 billion euros in facilities with total capacity of 1.3 GW in operation or under construction and had over 5 GW of projects under development.