Olivier Marquette: Now is the time for the stabilization of the energy sector

Юни 19, 2015

June, 18th, Galabovo – The energy sector has an urgent need of stabilization, because it is very important for the economy as a whole. This is why we fully support the efforts of the Government of Bulgaria and the Energy Minister and the recently appointed independent Regulator to implement decisive measures to ensure the sustainability of the energy sector. This was pointed out by the executive director of AES Bulgaria Olivier Marquette during a meeting with journalists in the town of Galabovo. The media representatives visited the most modern power plant in Southeastern Europe – TPP AES Galabovo and the WDF. In both facilities the company has invested 1.3 billion euro.

Regarding Maritza’s PPA amendment, the goal of AES is to have the PPA amendment with NEK executed by the end of the month, Marquette said. “Both parties are working actively to fulfill this goal. At the moment, we are in the process of receiving approvals from our lenders”, he explained. If by the end of the month it turns out that our company or the government needs more time to fulfill their respective commitments, the MOU may be extended upon mutual agreement of the parties.

The media representatives were interested in the energy storage projects of the AES Corporation, which is the owner of the company in Bulgaria. AES is a world leader in the field of the energy storage. AES is already building energy storage facilities in Europe – in NI and the Netherlands. We’d like to evaluate the opportunities for the energy storage technology in Bulgaria, Marquette said.