Send to Kindle
German electric energy company E.ON has finalized the deal to sell its Bulgarian unit E.ON Bulgaria to private Czech company Energo-Pro, it emerged on Friday.
The news comes half a year after Bulgaria's Commission for Protection of Competition (CPC) cleared the acquisition of E.ON Bulgaria EAD by the Czech utility.
"Our main priority at the moment is to assure Bulgarian authorities and consumers that Energo-Pro is a reliable partner and a high-quality electricity supplier," Irji Krushina, chairman of Energo-Pro Board of Directors, commented.
Following the wrapping up of the deal, Energo-Pro starts serving 1.1 million clients in North-Eastern Bulgaria, including the Black Sea city of Varna.
The unit operates a distribution network of about 42,000 kilometers in northeast Bulgaria and delivered around 5.5 billion kWh of electricity in 2011.
Energo-Pro stepped on the Bulgarian energy market in 2000 and currently owns eight hydroelectric power plants, united in three cascades - Sandanska Bistrica, Koprinka and Petrohan - making it the largest private producer of hydroelectric power in the country.
Energo-Pro was established in the Czech Republic in 1994. Currently, Energo-Pro operates in the Czech Republic, Bulgaria, Turkey and Georgia. The company employs more than 6,000 people.
In 2004, the Balkan country sold 67% in its three power distributors to Germany's E.ON, Austria's EVN and Czech CEZ.
Czech power utility CEZ supplies power to over 2 million households and companies in western Bulgaria, while EVN serves the south-eastern parts of the country.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Meglena Plugchieva, the foreign policy advisor to Acting Prime Minister Dimitar Glavchev, has tendered her resignation
Bulgaria holds the 15th spot worldwide in terms of average salaries for individuals engaged in freelance professions, boasting an average wage of $148
The Bulgarian women participating in the European Individual Chess Championship for Women on the fourth day, held on the island of Rhodes, achieved three victories, one draw, and two defeats
In a significant affirmation of Bulgaria's path towards Eurozone accession, European Commissioner for Economy Paolo Gentiloni has confirmed the European Commission's support for Bulgaria's admission to the Eurozone in 2025
In a decision echoing the broader geopolitical concerns, Bulgaria's Holy Synod has opted to forgo the traditional journey to Israel to obtain the Holy Fire this year, Metropolitan Cyprian of Stara Zagora announced
Experts suggest that Bulgaria's admission to the Eurozone is more realistic in January 2026
The Nuclear Regulatory Agency (NRA) has greenlit the phased transition to a new type of nuclear fuel for Unit 5 of Kozloduy Nuclear Power Plant (NPP), manufactured by Westinghouse
In a bid to enhance its energy security and diversify its gas supply sources, Bulgargaz is gearing up for the first deliveries of liquefied gas through the Alexandroupolis terminal, set to commence in May
The Greek national electricity company, PPC, has announced plans to acquire 500 megawatts of photovoltaic capacity in Bulgaria
Oil prices have surged due to renewed concerns about the Middle East conflict. Brent crude futures increased by 0.32% to 90.80 USD per barrel, while American WTI crude rose by 0.3% to 86.50 USD per barrel
Bulgaria's state-owned energy company, "Bulgargaz," has suffered a significant setback, losing 27% of its market share as a result of a contract with the Turkish company "Botas"
A remarkable shift in Bulgaria's energy landscape has been unveiled in the latest report from the Commission for Energy and Water Regulation, submitted to the Bulgarian parliament
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
