Bulgarian Energy Holding

Bulgarian wholesale electricity supplier NEK has repaid EUR 309 M in outstanding debt owed to coal-fired AES 3C Maritza East I power plant, a subsidiary of U.S.-based AES Corporation.

Bulgaria's government has received six indicative offers to use capacity of the gas interconnector that is to be built between Bulgaria and Greece, Energy Minister Temenuzhka Petkova has said.

State-owned Bulgarian Energy Holding (BEH) group has said that it will invite a consortium of ??n?? IMI, Bank of China and J.P. Morgan Securities for talks on extending bridge financing of up to EUR 650 M to its indebted subsidiary NEK. 

Eight banks grouped in two consortia have submitted binding offers to extend bridge financing of up to EUR 650 M in total to the state-owned Bulgarian Energy Holding (BEH) group.

The energy group is seeking the money to enable its indebted subsidiary National Electricity Company (NEK) to repay debt owed to the local units of U.S.-based AES Corporation and ContourGlobal.

Jacklen Cohen, head of Bulgarian Energy Holding (BEH) company, has been dropped from the board of directors of the state-owned group, the Energy Ministry has announced.

Cohen has been replaced as board member by Bulgargaz CEO Petyo Ivanov under a decision of Energy Minister Temenuzhka Petkova.

Bulgaria's Prime Minister Boyko Borisov has instructed state-owned Bulgargaz and Bulgartransgaz to prepare to supply natural gas to Overgas in case Russia's Gazprom Export halted deliveries to the Bulgarian-Russian joint stock company.

Gazprom executives are to meet November 5 to consider the approval of certain transactions with the assets of South Stream Bulgaria, the Russian energy giant announced.

Bulgarian caretaker Deputy Prime Ekaterina Zaharieva will head the energy board to be established during Wednesday's government sitting.

According to a draft decree of the caretaker government, as cited by Sega daily, Zaharieva's Deputy will be Vasil Shtonov, caretaker Minister of Economy and Energy.

Westinghouse Electric is expected to sign a deal in the coming days to construct a nuclear reactor for Bulgaria's Kozloduy NPP, reports Nikkei Asian Review. 

The US-based subsidiary of Japan's Toshiba group is in the final stages of negotiations on a basic agreement with Bulgarian Energy Holding for a reactor with an output between 1 M kilowatts and 1.2 M kilowatts. 

The Russia company Stroytransgaz, reportedly owned by the blacklisted Gennady Tсmchenko has proposed to buy a share in Bulgarian Energy Holding.