CEZ has agreed on the terms of sale of its Bulgarian hard coal-fired thermal power plant Varna.
TPP Varna with installed capacity of 1260 MW has been temporarily shut down since 1. 1. 2015.
CEZ has decided to accept the offer of a Bulgarian company SIGDA OOD, which has been evaluated as a best offer received in the tender.
The transaction is subject to approval of the Bulgarian antimonopoly authority (CPC).
The final purchase price will be determined as of closing of the transaction based on the level of working capital.