Bulgaria: Mini Maritsa East loan provided by BEH

, SEE Energy News

After the meeting with the representatives of Podkrepa and CITUB unions, where topics relevant to the Maritsa East coal complex were discussed, Bulgarian Minister of Energy Temenuzhka Petkova said that state-owned Bulgarian Energy Holding (BEH) will provide a 25.5-million-euro loan to its coal mining subsidiary Mini Maritsa East in order to finance its investment program.

Also, additional 2.5 million euros will be provided for the increase of workers’ salaries as of 1 October. Minister Petkova stressed that Bulgaria will continue to rely on coal-fired power plants until 2030 with a view of 2050, adding that that Maritsa East complex produces 46 % of the country’s electricity.

Last week, Prime Minister Boyko Borisov met with CITUB President Plamen Dimitrov and discussed issues regarding the future of the Maritsa East complex, as well as the Government’s measures to address the socio-economic crisis caused by the COVID-19 pandemic.

Mini Maritsa East supplies coal mainly to three nearby thermal power plants: state-run Maritsa East 2, TPP Galabovo owned by AES and TPP Maritsa East 3 owned by ContourGlobal. The company recorded a net loss in the amount of 4.9 million euros in the first half of 2020.