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CEZ Bulgaria, Varna TPP to hold joint press conference

CEZ Bulgaria, Varna TPP to hold joint press conference

27 October 2014 | 10:32 | FOCUS News Agency
Sofia. CEZ Bulgaria and Varna TPP are to hold a joint press conference in the Bulgarian capital, the press centre of CEZ announced.
The event is scheduled to begin at 1:00 pm on Monday, October 27.
Mincho Minchev, Executive Director of Varna TPP, and Maria Doychinova, PR and communications director at CEZ Bulgaria, are to take part in it.
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Real danger of Bulgaria’s Varna TPP ceasing work as of January 1: executive director

Real danger of Bulgaria’s Varna TPP ceasing work as of January 1: executive director

16 October 2014 | 15:42 | FOCUS News Agency
Varna. There is a real danger of Varna TPP ceasing work as of January 1, said Executive Director of the plant Mincho Minchev, speaking for Radio FOCUS.
He explained if a joint decision was not reached with the Bulgarian Energy Holding (BEH) by the end of the year, on January 1, 2015 Varna TPP would have to temporarily suspend the exploitation of its units in line with the complex permit issued for it, which would be connected with laying off staff.
Minchev remarked calculations and analyses were being made to keep the highly qualified specialists in charge of the facilities while the management was considering possibilities of the future of Varna NPP.
According to the Executive Director, investments at EUR 120 million are needed to ensure the improving of the environmental profile and the efficiency of work of the TPP but their recovery was not guaranteed.
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CEZ continues to seek solution to extend Bulgaria’s Varna TPP life

CEZ continues to seek solution to extend Bulgaria’s Varna TPP life

15 October 2014 | 18:59 | FOCUS News Agency
Sofia. CEZ continues to seek a solution to extend the life of Varna TPP and keep the jobs at the power plant, the press centre of CEZ announced.
Currently a working group of CEZ and the Bulgarian Energy Holding (BEH) is analysing the possibility of establishing a project company which to finance the improving of the environmental profile of the 3 younger units of Varna TPP (4, 5 and 6) and rent the plant.
According to an inked memorandum the two companies will seek a technical and economic solution to extend the life of the power plant.
All the interested entities could also file proposals to be discussed and analysed by the working group.


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CEZ, Bulgarian Energy Holding management hold talks over extending Varna TPP’s life

CEZ, Bulgarian Energy Holding management hold talks over extending Varna TPP’s life

9 October 2014 | 12:31 | FOCUS News Agency
Sofia. Management of CEZ and the Bulgarian Energy Holding (BEH) work actively and hold constructive discussions over the future of Varna TPP, the press centre of CEZ announced.
The greement between the two companies on the formation of a working group to seek a technical and economic solution to extending the life of the power plant by October 31, 2014 was finalised in August.
One of the possibilities discussed is the formation of a project company which to finance the improving of the environmental profile of the three newer units of Varna TPP – 4, 5 and 6 and to rent the power plant.
The working group is ready to discuss all possibilities, including such prepared by experts of the trade unions as long as it is presented.
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As owner of Bulgaria’s Varna TPP CEZ invested BGN 600 mn in its development: Executive Director

As owner of Bulgaria’s Varna TPP CEZ invested BGN 600 mn in its development: Executive Director

9 October 2014 | 10:48 | FOCUS News Agency
Varna. “Currently CEZ as an owner of Varna TPP is actively and responsibly seeking a solution to extend the life of the power plant,“ said Mincho Minchev, Executive Director of Varna TPP EAD, speaking in an interview with FOCUS News Agency.
He explained CEZ had acquired Varna TPP in 2006 with the intention to develop it over a long period of time and invest nearly BGN 200 million to increase the company’s capital, with which the initial investment in the power plant reached some BGN 600 million.
“Tens of possibilities of improving the environmental profile of the thermal power plant in Varna have been considered over the past years, including ecologisation of all the 6 units, switching to using an alternative fuel – gas or another type of coal, ecologisation of 3 of the blocks and replacement of the remaining 3 with a new steam-gas unit. Neither of them was realised on account of the limiting the production of electricity by conventional sources in Europe, the uncertain regulatory environment in Bulgaria, the hard crisis in the sector and the low price of electricity on the regulated market, which does not cover all the production costs of the power plant,“ Minchev said further.
”Varna TPP even had not possibility of selling [electricity] on the liberalised market or export electricity abroad, which would help it at least partially compensate its losses on the regulated market. The power plant was set big [production] quotas on the regulated market and it had no free capacity to produce [electricity] to export. The free market existed only on paper but in practice was not functioning,” he remarked.
In his words, the world economic crisis dealt a severe blow to the energy sector in Europe and the prices of electricity fell to such levels that hampered investments in the production of conventional sources.
”The period in which the TPPs in Bulgaria had to make big investments in improving their environmental profiles in practice coincided with the global economic crisis,” Minchev noted.
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