The purpose of the project is to support the restructuring and commercialisation of the Bulgarian power sector, and to assist in the preparation of the country’s accession to the European Union.
The project’s objectives are to strengthen Bulgaria’s electricity transmission network, regional load despatch centres and communication system, and to provide institutional support for the national transmission and despatch company.
The project is a unique opportunity for the Bank to support the demonopolisation of the sector and to prepare for its privatisation through the establishment of a transmission company and to assist the Government in the implementation of its action plan.
The project will also facilitate Bulgaria's plans for interconnection with UCTE (Union for the Coordination of Transmission of Electricity) system and will therefore open the power sector to cross-border competition.
Natsionalna Elektricheska Kompania (NEK) is the Bulgarian National Electricity Company.
Sovereign-guaranteed loan of €41.1 million to NEK, co-financed with the European Investment Bank (€60 million expected to be committed by the end of 2002).
The project will help to reduce transmission losses and will, therefore, indirectly contribute to a reduction in overall emissions from power generation. Work carried out under the project (mainly sub-station improvements) will be in compliance with national and EU standards.
There is ongoing technical cooperation for advisory services to support the new national transmission company for the preparation of a long-term business plan.
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