Prime Minister Dimitar Kovachevski declared that the Greek company Archirodon, awarded a concession for constructing the Chebren hydropower plant, holds until the month’s end to finalize its decision on signing the contract and forming a joint venture with the state-owned power utility ESM.

Kovachevski underscored that the Government’s stance aligns with the regulations stipulated in the tender process, the Law on Concessions, and the Law on Waters. He clarified that the chosen company must either proceed with the contract signing or opt out. However, he refrained from speculating on their decision, highlighting that the Ministry of Environment and Physical Planning holds the authority for negotiations and future signings.

Responding to allegations of pressure, Kovachevski dismissed such claims, stating that neither he nor the Cabinet had encountered any approaches regarding this matter.

During the 185th session on September 14, the Government endorsed the selection of the most advantageous offer for the water use concession for electricity generation, involving the construction of a hydropower plant on Crna Reka. The concession was granted to PUBLIC POWER CORPORATION S.A. – Greece & ARCHIRODON GROUP N.V. – Greece, as per tender documentation and the concession agreement.

Following the company’s complaint about inconsistencies between the decision’s content and the tender specifications, the initial three-month deadline was extended. Failure to respond by December 31, as announced, will result in the enforcement of the €1.4 million bank guarantee.