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Enel: “No decision” on selling Bulgarian stake
- 13 years ago (2010-07-12)
- David Flin
Enel, Italy’s largest utility, has said that it has not yet reached a decision on selling its 73 per cent stake in Bulgaria’s Maritsa East Three coal-fired power plant. Reports suggest that Inter RAO UES wants to buy the stake for $1 billion, to be announced in two weeks time. Enel has denied the report, saying: “The sale process is still ongoing, and no agreement with Inter RAO or any other parties has been reached. Therefore, no decision has been taken by Enel, pending the finalisation of the process.”
World Energy Congress
Enel is holding a tender selling its Bulgarian assets. US power producer AES Corporation is interested in acquiring the stake, according to Peter Lithgow, Managing Director of AES’s Bulgarian unit. Inter RAO, Russia’s state-run electricity trader, is also involved in talks to buy the stake.
Last year, Enel completed a €700 million expansion of the Maritsa East Three lignite-fired power plant. This increased its capacity to 908 MW, extended its operational life by 15 years, and installed anti-pollution equipment to meet European Union environmental safety requirements.