Enel has acquired the remaining 40% of Maritza East III Power Holdings that it did not already own, and 100% of Maritza O&M Holding Netherlands from the US company Entergy. By gaining a majority interest in both the owning company and operating arm of the Maritza III station, Enel says it has furthered its expansion in the central and eastern European market.
The acquisitions, Enel says, will see it take the lead in modernizing and operating the Maritza East III power plant, one of the country’s largest lignite-fired facility with a capacity of 840 MW.
Fulvio Conti, Enel’s CEO, remarked that the deals strengthen our position in Bulgaria, a key market for Enel’s growth in central and eastern Europe, where we intend to expand further, both in generation and power infrastructure.
Enel has also purchased the entire share capital of Maritza O&M Holding Netherlands, a Dutch company that owns 73% of the Maritza East III Operating Company, a Bulgarian company that operates and maintains the Maritza East III power plant. The remaining 27% of both Bulgarian companies is still owned by NEK, the Bulgarian national electricity company.
Enel has paid Entergy a total of E47.5 million to buy the two stakes.