US energy giant Entergy will pull out of Europe and is looking to divest its only remaining European power plant, Bulgaria's Maritsa III

US energy giant Entergy will pull out of Europe and is looking to divest its only remaining European power plant, Bulgaria's Maritsa III, and give up two intermitted projects in Italy, Euromoney magazine wrote, citing a publication of the analytical company Power Finance & Risk. US company Entergy's and Italy's Enel rehabilitate the 840 MgW coal-fired power station, built back in the 70s and 80s. Rehabilitation of the units, whose cost is put at EUR 580 M, is expected to increase the scheduled operations of the station by 15 years and boost capacity to 900 MgW. According to Euromoney magazine Entergy Asset Management has hired Deutsche Bank to advise it on selling its stake in 8 fossil-fused power plants and one wind farm based in Europe. Analysts say the decision of Entergy comes as no surprise as it is in line with the company's management strategy for the past two years. Bulgaria's Energy Ministry has not been informed about the decision of Entergy to pull out of Maritsa III project, local Dnevnik Daily reported. Representatives of the ministry have specified that should it be the case, Entergy should offer its stake in the joint venture to the other shareholder - Italy's Enel. Enel representatives are expected to pay a visit to Bulgaria next week.