US energy giant Entergy will pull out of Europe and is looking to divest its only remaining European power plant, Bulgaria's Maritsa III
Published:
30 October 2003 y., Thursday
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.
Šaltinis:
novinite.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
New rules for the EU's single market will make it easier to live and do business anywhere in Europe.
more »
MEPs were disappointed that the Commission's EU budget review document had not sought the radical revision that the EU needs, they told Budgets Commissioner Janusz Lewandowski in a Policy Challenges Committee debate on Thursday.
more »
On 25 October, the Commission adopted the decision to financially support the 2011 electoral process in the Central African Republic.
more »
New EU framework for crisis management in the financial sector for managing problems before they spiral out of control.
more »
The financial crisis laid bare the limits of self-regulation, demonstrating the need for strong EU economic governance, surveillance and policy co-ordination, say two non-legislative resolutions voted by Parliament on Wednesday.
more »
The European Commission has approved an application from Germany for assistance from the European Globalisation adjustment Fund (EGF).
more »
Global and EU- level taxes on financial sector would help to fund international challenges such as development or climate change and fix the fallout from the global economic crisis.
more »
The European Investment Bank and African Development Bank today agreed to provide EUR 45m to design, build and operate onshore wind farms on four islands in the Cape Verde archipelago.
more »
MEPs want future EU budgets to accommodate new policy priorities as well as negotiations on new sources of financing.
more »
The European Parliament's Budgets Committee on Monday backed EU funding for 3,731 workers in Portugal, the Netherlands, Spain and Denmark who were made redundant due to the closure of their companies.
more »