Bulgaria: Profit decrease at TPP Maritsa 3

, SEE Energy News

In 2020, Bulgarian thermal power plant Maritsa 3 reported a net profit in the amount of just around 60,000 euros, compared to a profit of 3 million euros recorded last year. The company’s total revenues more than halved to 10.1 million euros in 2020, compared to 24.8 million euros in revenues in the previous year. Total expenditures dropped as well, reaching around 10 million euros, compared to 21.5 million euros in 2019. In August 2020, Bulgarian media reported that TPP Maritsa 3 will have to lay off part of its employees in order to comply with new rules on providing cold reserve services. The plant’s Executive Director Iliyan Pavlov said that the suspension of the plant’s operation is currently not under consideration, but it has already started to relocate some of its employees to TPP Brikel in Galabovo. The majority of the plant’s revenues comes from contracts with the Bulgarian Government on providing cold reserve services. This effectively means that TPP Maritsa 3 was left without any revenues as of 1 August 2020. It was not disclosed how many employees, out of current 140, will be laid off. TPP Maritsa 3 is located in Dimitrovgrad in southern Bulgaria and has 120 MW output. Its largest shareholders is UK-based Topgroup with 49 % stake.