Austrian utility EVN Group has acquired Bulgarian heat generator TEZ Plovdiv for E32.1 million from the Bulgarian Privatization Agency. The acquisition doubles the number of heating customers in the EVN Group.
TEZ Plovdiv operates a total of five heat generation facilities, of which one is a cogeneration facility, in Plovdiv and Asenovgrad. The Bulgarian utility’s total heat generation capacity amounts to 1,259MW thermally and 85MW electrically. The company supplies heating to approximately 40,000 customers.
EVN has been active in Bulgaria’s electricity supply market since 2005, as a consequence of the acquisition of two regional energy suppliers, ERP Plovdiv and ERP Stara Zagora. EVN delivers electricity to about 1.5 million customers in southeastern Bulgaria.
EVN said that the transaction is the first step in its development in Bulgaria from an electricity distribution company to a multi-utility provider.
Peter Layr, a member of the executive board of EVN, said: The acquisition of TEZ Plovdiv represents a major challenge for the EVN Group. Following the closing of the transaction, the next step is the integration of TEZ Plovdiv in the EVN Group. Our most important targets are the implementation of improvement measures, in particular pertaining to the reliability of energy supplies as well as service quality.