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VEC Energia acquired by Energo-Pro

Published

January 31, 2016

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Published:

January 31, 2016

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The deal for the full acquisition of VEC Energia Holding EAD, the second in scale private hydropower plant operator in Bulgaria, was completed by Energo-Pro Bulgaria EAD. The shares were transferred on January 30 and Energo-Pro stepped in as the sole shareholder of VEC and the six hydropower plants, owned by the company directly and through its subsidiaries: Pirin HPP, Spanchevo HPP – united in Pirinska Bistritsa Cascade, Katuntsi HPP, Ogosta HPP, Samoranovo HP and Karlukovo HPP.

The total installed capacity of the newly acquired plants is 63 MW, representing a 60% increase in the existing generation capacity of Energo-Pro’s subsidiary in the country. The company is reaching total installed capacity of 166 MW in Bulgaria, for an estimated annual production of over 400 GWh, it said in a press release.

In other news the first issued guarantees of origin for green energy produced in Bulgaria were given to an owner in Hungary, and the deal has been realized by Energo-Pro Trading EAD. A local telecommunication company purchased them by a procedure consistent with the Hungarian legislation and Directive 2009/28/ЕО of the European Parliament.

The guarantees of origin (GO) could be purchased also by Bulgarian companies. However, taking into account the specific secondary legislation they could be traded only together with the energy for which they have been issued. In other words, the buyer has to buy the energy produced from renewable energy sources, and to obtain guarantees of its origin in its role as an end supplier.

Energo-Pro Trading EAD is part of the group of the same name founded in 1994 in the Czech Republic. The company owns 47 hydroelectric power stations with total installed capacity of 860 MW. Energo-Pro a. s. said it operates in the Czech Republic, Bulgaria, Georgia, Turkey and Armenia, employing over 8,000 people. The company realizes transmission and distribution with electric power to over two million customers on the territory of Bulgaria and Georgia.

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