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Bulgaria to pay 10M euro less for Tsankov Kamuk hydro array

Mon, Oct 25 2010 10:01 CET

byDnevnik.bg

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Bulgaria to pay 10M euro less for Tsankov Kamuk hydro array

Photo: Krassimir Yuskesseliev

Bulgaria's state-run power utility NEK will pay 10 million euro less to Austrian company Alpine Bau for the construction of hydro power complex Tsankov Kamuk in southern Bulgaria, according to an agreement signed between the parties on October 22 2010.

The country will need to pay the developer only 16 million euro under the escalation formula, which was stipulated in the contract for building the plant, the Economy Ministry said.

The complex, expected to become operational by the end of the year, is worth 379 million euro, up from 220 million euro estimated two years earlier.

The 80-MW hydropower plant was expected to be completed in 2009, with the project's costs to swell in line with the inflation rate. The project is implemented under an agreement with Austria under the Kyoto Protocol.

Source: Dnevnik.bg

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