Austrian company EVN is expected to purchase a 70% stake in the Bulgarian hydro power plant project "Gorna Arda" from Turkish company Ceylan "within days", according to Bulgarian Economy Minister Traicho Traikov. Traikov spoke Saturday at a news conference in Sofia dedicated to the energy policy of Borisov Cabinet, Sofia News Agency wrote.
In December 2010, there were reports that the much anticipated deal with the vastly troubled Bulgarian hydro power project on the Arda river in the south would be sealed in the first quarter of 2011; however, these forecasts have failed to materialize.EVN and Ceylan have been tangled in negotiations for the buyout for months.
The project company for the construction of the 160 MW cascade is expected to be formed with a 70% of EVN and a 30% share of the Bulgarian National Electric Company NEK.