AES Bulgaria is strictly following all Bulgarian and EU laws

The Power Purchase Agreement signed between the National Electricity Company and AES Galabovo TPP has been subject to numerous checks and audits of different institutions, including by the Chief Prosecutor’s office, and none of them has established any non-compliance with the law. This was stated in a press release by the U.S. power plant.

“In its business AES Bulgaria is strictly following all legal requirements of the Bulgarian state and the European Union, as well as anti-corruption laws and standards, including the United States’ Foreign Corrupt Practices Act”, Executive Director of AES Bulgaria Olivier Marquette said.

His statement came in response to the submission of a claim against the company by the four nationally-represented employers’ organizations to the Chief Prosecutor’s office. Mr. Marquette reminded that the contracts between AES and NEK are publicly available.

“This is in line with the company’s efforts to be a loyal and predictable partner of the communities we serve.” AES Bulgaria will continue to support the Bulgarian government and EWRC (the Regulator) in their efforts to stabilize the electricity sector and to establish clear market rules. As far as the potential audit of the Chief Prosecutor’s office is concerned, the company will provide all needed information as it has done in all previous audits.

AES is one of the world's biggest energy companies. It owns a varied portfolio of assets for electricity production and distribution in 18 countries all over the world. It entered the Bulgarian market in 2001 and is the biggest investor in the last 25 years. Its investments exceed EUR 1.6 billion. AES Bulgaria owns the newest and most modern TPP in Southeast Europe – TPP AES Galabovo and the newest Waste Disposal Facility. It also is majority owner of AES Geo Energy, which operates the biggest wind power farm in Bulgaria – Saint Nikola Wind Farm near Kavarna.

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