|
|
Article: Restructuring Completed On AES's Lignite-Fired Power Project in Bulgaria; Main Commercial Contracts for AES-3C Maritza East 1 Project Signed.
- Article from:
- Business Wire
- Article date:
- June 13, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Business Editors
ARLINGTON, Va.--(BUSINESS WIRE)--June 13, 2001
The AES Corporation (NYSE:AES) announced today that the AES-3C Maritza East 1 project signed two key contracts: the 15 year Power Purchase Agreement with the Bulgarian national electricity utility, NEK, and, the Lignite Supply Agreement with the local mining company, Maritza East Mines.
AES has an 88% ownership interest in the project.
The AES-3C Maritza East 1 Project is a 670MW lignite fired "brownfield" plant located adjacent to the existing Maritza East 1 facility. The project was awarded after an international tender in 1998 and AES joined the project in 1999.