The Bulgarian Commission for the Protection of Competition (CPC) announced that it has launched an investigation into proposed acquisition of shares in thermal power plants Bobov Dol and Brikel by Ultimate Energy Investment Group.
Ultimate Energy Investment Group, which requested to acquire an unspecified number of shares in each of the two power plants, is currently inactive. According to CPC, the proposed transactions are not expected to affect the ongoing operations of TPPs Bobov Dol and Brikel, namely production and transmission of thermal and heating energy.
Ultimate Energy Investment Group is not listed in Bulgaria’s commercial register. A US-based company of this name is listed as investing in foreign energy operations, consulting on US and multilateral agency energy programs and resources and assisting the US Department of Defense with renewable energy solutions as well as with introductions to major banks, investment funds and private investors.
TPP Bobov Dol, established in 2000, is located in Kyustendil in southwestern Bulgaria and has an installed capacity of 630 MW. In the first nine months of 2022, TPP Bobov Dol recorded a net loss in the amount of 2.25 million euros, compared to a loss of 9.6 million euros in the same period last year.
TPP Brikel is located in Galabovo and has previously been shut down on several occasions for environmental breaches. It has six boilers with nameplate capacity of 60 MW and four turbines with a nameplate capacity of 50 MW.
