Bulgaria is set to terminate PPA deal with Maritsa 3 coal-fired project

The Government of Bulgaria is set to terminate the power purchase agreement (PPA) deal forged with ContourGlobal for its 908 MW Maritsa East 3 coal-fired power plant. 

The 15-year PPA was signed in 2001 by Bulgaria's state-owned National Electricity Company and the power plant operator ContourGlobal  Maritsa East 3. The contract started to be realized in February 2009, when ContourGlobal completed the rehabilitation of the Maritsa East 3 coal-fired power plant.

The European Commission has opened the investigation to determine whether the PPA represents illegal state aid, following a complaint filed by Bulgaria's Energy and Water Regulatory Commission.