Bulgaria, TPP Maritsa 3 reported a net loss in the amount of some 650,000 euros in H1 2021

, SEE Energy News

Bulgarian thermal power plant Maritsa 3 reported a net loss in the amount of some 650,000 euros in the first half of 2021, compared to a profit of 1.85 million euros recorded in the same period last year .

The company’s total revenues plummeted to 1.9 million euros in the first six months of the year, compared to 8.8 million euros in the same period in 2020. Total expenditures dropped as well, reaching 2.65 million euros, compared to last year’s 7 million euros.

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.