Power Plants in Bulgaria
Bulgaria
Powering Bulgaria with Reliable and Sustainable Energy Solutions
All types
Mixed Technology
Bulgaria
1,483 MW
ContourGlobal is accelerating its strategy to become a predominantly renewable energy producer by 2030, with the Maritsa East 3 Thermal Power Plant site playing a central role in this transition. The scenario we are currently advancing involves the temporary use the existing grid infrastructure that previously served Units 1 and 2 to fast-track new clean energy projects within the ME3 TPP complex.
1,483
1,483
MW
of capacity
7
7
Assets
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From Coal to Renewables
Maritsa East 3, historically a lignite-fired coal plant composed of four units of 227 MW gross capacity each, has long played a strategic role in Bulgaria’s energy system, supporting both domestic supply and exports. ContourGlobal holds a 73% ownership stake in the plant, with the remaining 27% owned by the Bulgarian National Electric Company (NEK).
After the long-term power purchase agreement with NEK expired in February 2024, coal-fired operations were significantly reduced due to market conditions. In alignment with Bulgaria’s energy transition goals, ContourGlobal is reallocating the grid access of Units 1 and 2 to enable the rapid development of clean energy solutions. The most advanced of these is a 200 MW / 500 MWh stand-alone Battery Energy Storage System (BESS), currently under construction through the Bulgarian Government’s RESTORE program. Once operational, it will be one of the largest BESS installations in both Bulgaria and the European Union.
How we work with our neighbors in Bulgaria
In partnership with the municipal authorities, we are supporting services throughout the community. Projects and services include:
- Local disabled people group
- Youth sports clubs
- Mentally disabled service
- Foster care
- Local cultural house
Our Head of Bulgaria
VASSIL SHTONOV
Vassil joined ContourGobal in 2023 to lead the company’s operations in Bulgaria and drive its efforts to support the energy transition in the country. With a strong background in management consulting, Vassil brings extensive experience, analytical skills and leadership from previous prominent positions at McKinsey & Company, where he worked with energy and financial sector clients, as well as from KPMG and Bear Sterns. His career blends investment banking, venture financing and consulting for financial institutions with public-sector roles, including policy-making at the Bulgarian Ministry of Energy and Economy and serving on the Supervisory Board of the Bulgarian Development Bank.
He earned his undergraduate degree from the University of Pennsylvania and holds an MBA from the MIT Sloan School of Management.
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