Inercom Bulgaria divests solar projects in fresh bid to buy CEZ assets
Inercom Bulgaria EAD has filed a fresh merger notification to the country’s Commission for the Protection of Competition concerning its deal to buy Czech energy group CEZ’s assets in Bulgaria, having restructured and divested its solar photovoltaic power projects, local media reported, citing a statement from Inercom Bulgaria EAD. Inercom Bulgaria EAD said that the […]
EUR 230 million to be invested in improvements of Bulgaria’s water supply, wastewater treatment
A total of EUR 230 million is to be invested to improve Bulgaria’s water supply and wastewater treatment from Bulgaria’s, the EU’s, and the European Bank for Reconstruction and Development’s (EBRD) sources. The Fund Manager of Financial Instruments in Bulgaria (FMFIB), or Fund of Funds, has been set up by the Bulgarian state to structure […]
Sofia transport operator plans to buy 30 electric buses
Urban transport operator Sofia Electrical Transport Company (SETC), wholly-owned by the City of Sofia, is set to get a EUR 14.7 million loan from the European Bank for Reconstruction and Development (EBRD) to enhance its bus fleet through the purchase of 30 low-floor electric buses with fast charging technology and 12 charging stations, as well […]
IBEX, ESO join EU XBID Local Implementation Project
The Independent Bulgarian Energy Exchange (IBEX) and the country’s Electricity System Operator (ESO) have become part of a project for market coupling of intraday markets (IDM) through the 15th XBID Local Implementation Project, IBEX said in a press release. The Local Implementation Project 15 (LIP 15) involves the market operators and transmission system operators (TSO) […]
BEH gets EBRD’s financial backing to help with energy market liberalization
State-owned energy company Bulgarian Energy Holding (BEH) has secured a EUR 100 million investment from the European Bank for Reconstruction and Development (EBRD) in its seven-year EUR 550 million bond issuance to refinance an earlier bond under better terms, in what will improve its financial structure and is expected to help with the country’s energy […]
Biomyc develops biodegradable packaging solution to substitute polystyrene, protect oceans from pollution
The Expanded Polystyrene Foam (EPS), a type of plastic, is widely used in the packaging industry. This non-biodegradable material has short usage cycles and a very low recycling rate, which makes it one of the most pervasive pollutants on Earth, especially in oceans. Bulgarian startup Biomyc, a finalist of this year’s clim@ competition for startups […]
Bulgaria’s NEK reports net loss in H1, to cancel some projects
Power utility Natsionalna Elektricheska Kompania (NEK) reported a BGN 74 million (EUR 37.8 million) net loss for the first six months of the year, according to the interim financial report published on the website of the Ministry of Finance, the Bulgarian media reported. The company said that due to poor financial results some investments will […]
China’s Sunpower to design biomass power plant in Bulgaria
A subsidiary of China’s environmental protection solutions company Sunpower Group will design a biomass power generation facility in Bulgaria, according to a press release from the Chinese company. The subsidiary, Shandong Yangguang Engineering Design Institute Co., Ltd., will design a facility with a power generation capacity of 16MW, using waste from the pulp production process […]