Bulgaria: EVN does not give up HPP Gorna Arda, capable for financing

14. October 2013. / SEE Energy News

Bulgarian EVN denied the news published by the Bulgarian media relying on the appearance of one representative of the local parliament, according to which Chinese investors have shown a serious interest in building of delayed Bulgarian hydropower project on the Arda river in the south.

In this news says that the Austrian company can not realize this project because of lack of funds and that the potential foreign investors withdrew.

“Gorna Arda project is still in the preparatory phase, and involves the modernization and optimization of the initial project older than 30 years. Shareholders are working hard to improve HPP project Gorna Arda, and even EVN nor national Electric Power Industry did not receive any signal from the third investor who would be willing to be involved in the project. Indeed, neither one of the two investors does not currently consider the possibility of withdrawing or selling their shares or its part to a third party,” it is said in a statement of the companies that are project developers.

The statement that EVN has difficulty financing the project is also denied, with the best proof – financial statements of companiy that are publicly available.

Source; Serbia Energy See desk

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