Austrian electricity distribution firm EVN, which services southern and southeastern Bulgaria, has surpassed one billion leva in investment in the country in June, the company said in a statement.
The money has been spent on power-generation facilities, renewable energy and client services, but the bulk (850 million leva) has gone towards upgrading and building up the electricity infrastructure, including 1.5 million new electricity counters, 15 000km of new and repaired power cables and 1500 new electricity transformers, among others.
“With its one billion leva investment since entering the Bulgarian market, EVN is one of the largest foreign investors in Bulgaria and a company with long-term commitments towards Bulgarian customers, Bulgarian nature and Bulgarian energy security,” the company said.
EVN said that as a result of its investment, the company has reduced network losses to less than 11 per cent, resulting in annual savings of 550GWh, equivalent to the annual electricity consumption of an average-to-large town. The company said that it has reduced instances of electricity service interruptions by 39 per cent.
The company has also invested about 150 million leva in co-generation facilities at the Toplofikatsiya Plovdiv central heating company, which EVN bought in 2007, as well as improving the city’s entral heating network. The investment has earned EVN the most innovative investor award for 2011 from InvestBulgaria agency.