Bulgaria: TPP Maritsa East 2 to obtain two loans worth 12.8 million euros

, SEE Energy News

Bulgarian Energy Holding (BEH) announced that its subsidiary that operates thermal power plant Maritsa East 2 has invited offers for two revolving loans with a combined worth of 12.8 million euros.

The two loans will serve to finance the power plant’s working capital needs. The deadline for the submission of bids is 27 March 2017. This is the second time that TPP Maritsa East 2 has invited interested parties to submit offers for two revolving loans. The first invite was published on 28 February and its deadline expired on 15 March 2017.

Earlier this month, Director at the Ministry of Environment and Water Ivan Angelov said that the European Commission (EC) may launch an infringement procedure against Bulgaria for exceeded carbon oxides emissions threshold in the town of Galabovo, which is located in the heart of the country’s coal production area – the Maritsa East basin. According to him, the worst possible consequence of this infringement procedure could be an imperative to shut down production units in thermal power plant Maritsa East 2 in order to keep CO emissions below cap.

TPP Maritsa East 2 is the largest thermal power plant in Bulgaria with total power output of 1,450 MW in eight units. First units were commissioned during the period 1963-1969, while 215 MW units 7 and 8 were commissioned in 1990-1995.