A history of accelerating the future of energy, together

From its founding and to today, AES has led lasting positive change in the energy sector based on its stakeholders’ most critical needs.

A journey to a sustainable energy future in Bulgaria

The AES Corporation, one of the largest global power companies, is the largest foreign investors in Bulgaria's energy sector after the country began market reforms in 1989.

AES Bulgaria contributes to the stabilization of the energy sector and enhances the energy independence of the country through its diversified power generation facilities.



  • 2001: The power purchase agreement for Maritza East 1 Project and the lignite supply agreement with Maritza East Mines were signed
  • 2005: Maritza East 1 Project received a letter of support from the Bulgarian Government
  • 2005: Financial close of Maritza East 1 Project with EBRD, BNP, ING and Credit Agricole
  • 2005: Invest Bulgaria Agency certified AES as First Class Investment for the TPP Maritza East 1 project
  • 2005: Project Finance Magazine named AES Maritza East 1 “EMEA Power Deal of the Year” for 2005
  • 2006: TPP AES Galabovo construction began
  • 2006: After successful syndication of Maritza East 1 financing, more than 25 international commercial banks joined the project financing
  • 2007: The Saint Nikola wind farm, a joint initiative between AES and Geo Power, received a certificate for First Class Investment
  • 2009: Construction on the Saint Nikola wind farm began


  • 2010: Saint Nikola wind farm began operations
    Saint Nikola wind farm has had certified Integrated Management System under safety (OHSAS 18001), and environmental (ISO 14001) standards
  • 2011: TPP AES Galabovo became operational
  • 2015: TPP AES Galabovo was certified Integrated Management System under safety (OHSAS 18001), environmental (ISO 14001) and Asset Management (ISO 55001:2014) standards. It was the first business in Bulgaria certified under Asset Management standard.
  • 2017: During a major cold wave in Bulgaria, TPP AES Galabovo was the best performing plant able to offer the additional electricity needed by operating at full capacity during the whole month, with a reliability above 99%, thus avoiding a blackout.
  • 2018 : Kavarna wind farm starts selling its energy on Bulgarian energy exchange IBEX
  • 2019 : The operational and commercial management of Zeeland Battery Energy Storage System is transferred to AES Bulgaria. The array is operated remotely from AES TPP Galabovo control room in Galabovo
  • 2020 : Kavarna wind farm celebrates 10 years of successful operation. During this period, Kavarna wind farm produced 3 200 000 MWh, and saved 2,6 million tons of CO2 emissions