Bulgaria’s privatization agency said yesterday it had extended the deadline for final bids in the sale of three thermal power plants by a month until April 27 so the investors can have more time to prepare offers.
The Balkan state is selling 100 percent stakes in the coal-fired power plants in Bobov dol, Varna and Rousse in an effort to offload some power assets and cash in on up to 250 million euros ($335.8 million) before it joins the EU in 2007.
It is the second time the agency has extended the deadline. The first time it pushed the date back by five days to March 30 to avoid Easter celebrations.
“The extension is due to planned meetings between investors and Bulgaria’s power regulatory agencies,” the privatization agency said in a statement.
“They will allow candidates to fully comprehend the market positions of the plants and the environment in which they will operate.”
Bulgaria has short-listed 11 energy majors in the sale of its aging thermal power plants and has pledged to finalize the deal before the general elections expected this June.
Czech CEZ, Austrian EVN, and Germany’s E. ON, along with Italian utility Enel, Greece’s Public Power Corporation and Russia’s Unified Energy Systems were invited to place final bids.
Japanese Mitsui and Electric Power Development (J-Power), Britain’s International Power, French Dalkia and US AES also qualified.
The sale of the three plants, which produce around a fifth of Bulgaria’s 10,000 megawatts of installed power generation capacity, will help the country liberalize its market and keep its leading position as power exporter in Southeastern Europe.