HPP Gorna Arda project put on hold – Bulgaria, 1 March 2017

Austrian energy company EVN announced that its project for the construction of hydropower cascade system Gorna Arda in southern Bulgaria has been put on hold.
The statement from the company said that due to changes in the energy policy environment in Bulgaria, the project has been put on hold as its realization is not possible under current circumstances, adding that impairment losses in the amount of 28.9 million euros were recognized in the last quarter of 2016.

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