April 27 (SeeNews) - Bulgarian thermal power plant (TPP) Bobov Dol [BUL:TBD] said on Thursday it generated a standalone net profit of 2.45 million levs ($1.4 million/1.25 million euro) in January-March, up from 1.55 million levs in the same period last year, as revenue soared.
The power plant operator's revenue surged to 155.9 million levs in the first quarter of 2023 from 37.95 million levs a year earlier, TPP Bobov Dol said in an interim financial statement.
The total operating expenses of the lignite-fired power plant operator also grew significantly, to 153.3 million levs in the review period from 36.4 million levs in the first quarter of 2022, mostly due to a nearly 300% surge in expenses for materials.
TPP Bobov Dol, established in 2000, is located in the Kyustendil region, in southwestern Bulgaria and has an installed capacity of 630 MW. It has been fully controlled by local consortium Energy MK since its sale by the government in 2008.
Last year, the power plant tabled an investment proposal to build a biogas installation with a capacity of 6.9 MW and an output rate of 74,083 cubic metres per day. In April, the regional environmental protection agency said it will not need to assess the project as it is unlikely to negatively affect local protected habitats. The biogas cogeneration facility will produce 48,000 MW of electricity and 25,000 MW of heating energy per year.
Shares in TPP Bobov Dol closed flat at 20.40 levs on Wednesday, most recent data from the Bulgarian Stock Exchange showed.
(1 euro = 1.95583 levs)