PVB Power Bulgaria to Invest EUR 250 M in Romanian Hydro Plants

Business » ENERGY | March 23, 2011, Wednesday // 18:36
Bulgaria: PVB Power Bulgaria to Invest EUR 250 M in Romanian Hydro Plants The Svoge hydro power plant of PVB Power Bulgaria. Photo by BGNES

PVB Power Bulgaria AD, an Italian-owned company registered in Bulgaria, has acquired permits to build 7 micro hydro-power plants in Romania.

The 7 hydro power plants will have a combined annual electricity production of 260 000 000 KWh, and the total investment is estimated to reach EUR 250 M.

The project for the 7 plants corresponds with Romania's strategy to focus on hydro-energy, the company said.

PVB Power Bulgaria AD is a joint stock company based in Bulgaria with stakeholders – the Italian state represented by Finest SpA, PVB Group, Dolomiti ENERGIA, and Azienda Energetica SpA.

The consolidated capital of the PVB Power Bulgaria stakeholders amounts to EUR 1.025 B, and their assets are valued at EUR 2 B.

The companies participating in PVB Power Bulgaria own 43 hydro stations with a total capacity of 1 842 MW, and annual production of 4.5 GW/h.

Through its subsidiary "Svoge Hydro-Power Plant AD", PVB Power Bulgaria AD has constructed a total of 9 hydro power plants along the Iskar River, investing EUR 115 M.

Through its other subsidiary "Maritsa Hydro Power Plant AD", it is working on a project for 5 hydro power plants along the Maritsa River, with the total investment estimated at EUR 110 M.

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Tags: PVB Power Bulgaria, Italy, Romania, hydro-power plant
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