Bulgaria's Consulthydro mulls buying 80% of Yahinovo HPP from Centrale Hydroelectrique

Upper reservoir Belmeken Dam / Photo: NEK

SOFIA (Bulgaria), March 12 (SeeNews) - Bulgaria's Consulthydro said on Tuesday that it is planning to acquire the remaining 80% shareholding interest in local hydro power plant (HPP) Yahinovo it does not own from Centrale Hydroelectrique de Bulgarie for an undisclosed price.

Consulthydro currently holds a 20% stake in Yahinovo HPP.

The company intends to acquire 45,746 shares in Yahinovo, which have a total nominal value of some 2.3 million levs ($1.3 million/1.2 million euro), Consulthydro said in an invitation for a shareholders meeting.

Consulthydro's sole owner - local private investor Yulia Hristova, will take a decision regarding the board of directors' proposal on April 30.

Centrale Hydroelectrique de Bulgarie is a wholly-owned unit of Akuo Bulgaria CHB, according to commercial register data.

Akuo Bulgaria CHB is owned by Akuo Energy Bulgaria and France's Euro Blue Power, which hold stakes of 51% and 49%, respectively.

Akuo Energy Bulgaria is owned by Luxembourg-registered Akuo Energy International and private investor Stefan Colin, which hold stakes of 90% and 10%, respectively.

Yahinovo HPP has an installed capacity of 6,900 kW, according to data from the Vei-bg register - a project of the Bulgarian Photovoltaic Association.

The power plant ended 2017 with a net profit of 184,000 levs, down from 956,000 levs in 2016. It generated operating revenue of 574,000 levs in 2017, down from 1.9 million levs in 2016.

(1 euro = 1.95583 levs)

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