Maritza East III Power Plant
Bulgaria | Utilities- Identification Code:
- OP/02/0319
- Total Operation Cost:
- 600.000.000 EUR
- Maturity:
- 180 months
- Operation Status:
-
BSTDB Approved Amount – Approval Date20.000.000 EUR – 07 Jun 2002
-
BSTDB Signed Amount – Signed Date20.000.000 EUR – 28 Feb 2003
-
Status:Completed
- Description and Purpose of the Operation:
- Maritza East III Power Company AD is a joint venture company JVC between Natsionalna Electricheska Kompania and Entergy Power Holdings Maritza B.V. BSTDB provides EUR20 million senior secured debt to Maritza East III Power Company AD. Maritza East III Power Plant, a key component of the Bulgarian generating system, is an 840 lignite-fired power plant of four generating units located near Stara Zagora in south central Bulgaria. The aim of the Project is to rehabilitate the power plant, to improve output and efficiency and to extend operating life for at least an additional 15 years. Additional financing is provided by European Bank for Reconstruction and Development and a group of international commercial banks, including Societe Generale, Credit Agricole Indosuez, Banca Mediocredito (UniCredito group) and Bank Austria Creditnstalt and Commercial Bank of Greece (Germany) GMBH, as well as four leading local banks: Biochim, Bulbank, SG Expressbank, and United Bulgarian Bank.
- Countries of Operation:
- Bulgaria (100,00%)
- Financial Product:
- Loans
- Sector:
- Utilities
- Domain:
- Private
- Borrower/Client:
- Maritza East III Power Company AD
- Co-Financers/Participants:
- EBRD, NEK, Entergy, Commercial Bank Loans covered by MIGA
- Guarantors/Sponsors:
- —
- Developmental and Regional Cooperation Impact:
- The Project is the first private transaction in Bulgaria's power sector, with a substantial developmental effect on the country. The Project has significant economic benefits for the country and the region as it extends the life and improves the fuel efficiency of a plant using indigenous fuel, and provides low cost, reliable power for the future. It has also an opportunity to create new employment and generate taxes.
- Environmental Classification and Impact:
- The Project will have a positive environmental effect. The Project is designed to meet all relevant EU and Bulgarian environmental requirements, particularly the EU Large Combustion Plant Directive. Compliance with emission standards is covenanted requirement and will be monitored by the Lenders.
- Operation Leader:
- Energy & Infrastructure
- E-mail:
- ei@bstdb.org
As of 28 Feb 2026
