Bulgaria, ContourGlobal signed a Memorandum of Understanding with the Government

, SEE Energy News

ContourGlobal, the owner and operator of coal- fired thermal power plant Maritsa East 3, signed a Memorandum of Understanding with the Bulgarian Government, according to which it will look into opportunities for investing in carbon-free and low- carbon electricity production, energy storage facilities, as well as co-incineration of alternative fuels, including refuse-derived fuel and biomass.

The memorandum was signed by the Minister of Energy Alexander Nikolov and Krassimir Nenov, CEO of ContourGlobal Maritsa East 3. The document will be in force until the end of 2025. It is not legally binding for the parties but any agreements that they sign subsequently in implementation of the memorandum, will be.

In order to support Bulgaria’s green transition, ContourGlobal will provide technical support for the assessment of alternative fuels, which guarantee the network stability and achieving decarbonization.

Last week, UK-based ContourGlobal agreed to be taken private by US buyout firm KKR & Co for 1.75 billion British pounds. KKR said that the deal will scale up the size and flexibility of investments in the business on the path to its stated ambition to reduce CO2 emissions by 40 % by 2030 and to achieve net zero emissions by 2050.

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