EVN Puts Gorna Arda Hydro Power Cascade on Hold
EVN AG has informed all stakeholders the project for the realization of the Hydro Power Cascade is put on hold.
Turkey's CCG, part of the Ceylan conglomerate, has wrapped up talks for the sale of its 30.1% stake in the joint venture set up to implement the long-delayed hydropower project at Gorna Arda river in Bulgaria, a government official said.
The news was broken by Bulgaria's Economy and Energy Minister Petar Dimitrov, who declined to disclose the name of the buyer. Reports say an Austrian consortium between energy firm EVN and construction company Alpine Bau is interested in the key project.
Ceylan Holding has also withdrawn its claim for EUR 75 M in damages that it filed with the International Court of Arbitration against the other member in the joint venture - Bulgaria's National Electricity Transmission Company NEK.
The Turkish company was contracted to implement the project under an electricity-for-infrastructure swap deal Bulgaria and Turkey signed in 1998. The launch of the hydropower construction was delayed after the Turkish company ran into financial troubles.
The Gorna Arda hydropower project is expected to cost around EUR 600 M, which should be paid by the consortium.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
During a briefing at the Ministry of Energy, it was revealed that Bulgargaz intends to pursue legal action against Gazprom Export, seeking damages amounting to BGN 400 million
"Toplofikatsia Sofia," the capital's heating supply company, has proposed a significant reduction in the price of thermal energy starting from July 1st
The Kozloduy Nuclear Power Plant (NPP) in Bulgaria is set to embark on a significant transition as it begins the process of replacing Russian nuclear fuel with American fuel from Westinghouse
Bulgargaz, the leading public gas supplier in Bulgaria, anticipates a notable decrease in the price of natural gas for the upcoming month of May. According to Lyudmila Vitanova
Eurostat's latest findings have shed light on the shifting landscape of household energy prices in the European Union, with Bulgaria emerging as a frontrunner in affordability.
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
Sofia Airport's Terminal 3 Construction Set to Begin in Early 2026
COVID-19 Impact: Bulgaria's Grim Milestone as Highest Death Rate in EU