October 14 (SeeNews) - Bulgarian power producer Brikel plans to invest nearly 51 million levs ($29.8 million/26 million euro) in 2015-2019, local media reported on Wednesday.
Brikel, which holds a license for the production and transmission of electricity, will invest in projects for the rehabilitation and modernization of its core power equipment in a bid to cut greenhouse gas emissions, news portal Investor.bg reported, quoting the company's investment plan put forward for review by Bulgaria's energy and water regulatory commission.
Brikel also plans to build a biomass-fired unit in the next four years, which will cost about 4.4 million levs.
The company expects the preferential tariff for the purchase of its electricity output to drop from 143 levs per MWh for 2015 to 122.06 levs per MWh in 2019.
The decrease would be the result of falling oil and gas prices as well as of the unchanged price of coal, the chairman of the energy and water regulatory commission, Ivan Ivanov, said.
The outcome from the review of the company's business plan will be announced after the regulator holds a second meeting behind closed doors on October 27.
(1 euro=1.95583 Bulgarian levs)