Bulgarians Pull Out of Power Plant Deal

The Bulgarian government has apparently cancelled the €105.2m sale of its Bobov dol thermal power plant. Greek company Public Power Corp (PPC) announced that it has received a notification from the Bulgarian Privatisation Agency cancelling the deal for the 630MW plant.

"There will be no deal. The talks have collapsed and the privatisation agency is cancelling the procedure," an unidentified source told Reuters.

It had always been a politically sensitive situation and was delayed by more than two years of legal and environmental issues and coal-purchase disagreements.