Bulgarian Energy Holding's Renewable Power Unit To Start Operation by Early 2010

The renewable power unit that state-owned Bulgarian Energy Holding (BEH) plans to set up as part of its expansion should start operation by early next year, BEH said on Tuesday.

BEH intends to wrap up by the end of this year all analyses and preparatory work on the unit that will handle renewable energy projects so that it could begin investment activities in early 2010, BEH executive director Galina Tosheva told the Investment in Wind and Hydroelectric Power Stations conference taking place in Sofia.

BEH, formed last year after the merger of eight state-owned companies with combined assets estimated at some 9.7 billion levs ($6.6 billion/5.0 billion euro), has 29 hydropower units with a totalled installed capacity of 2,563 megawatts in its current portfolio.

Bulgaria, which joined the European Union in 2007, must cover 11% of its electricity consumption with power generated from renewable sources by 2010 and 16% by 2020 under agreements with the bloc.

BEH (www.bgenh.bg) incorporates assets of Bulgaria's sole nuclear power plant Kozloduy, gas company Bulgargaz, gas transmission system operator Bulgartransgaz, telecommunications operator Bulgartel, power grid operator NEK and its wholly-owned system operator ESO, coal-fired power plant Maritsa East 2 and the Maritsa East coal mines. The debt-ridden heating utility of the country's capital, Toplofikatsia Sofia, is also expected to become part of BEH after the state took full control of the company last year.

(1 euro = 1.95583 Bulgarian levs)

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