April 21 (SeeNews) - Bulgarian thermal power plant (TPP) Maritsa 3 [BUL:MR3] said on Thursday that its standalone net loss narrowed to 5.1 million levs ($2.8 million/2.6 million euro) in the first quarter of 2022, compared to a loss of roughly 16 million levs in the same period last year.
The company's revenue decreased sharply to 13.3 million levs in the first quarter from 21.15 million levs in the same period of 2021, TPP Maritsa 3 said in an interim financial statement.
The coal-fired power plant cut its total expenses to 18.4 million levs in the review period from around 39 million levs in the first quarter of 2021.
Environment minister Borislav Sandov said on Thursday that the power plant will be shut down as of today due to violations of environmental legislation and non-compliance with air quality standards. In a social media post, Sandov justified the move by referring to sulfur dioxide emissions from the plant above the permitted limits as well as coal dust emissions.
The plant, which has one functioning 120-MW unit, is located in the town of Dimitrovgrad, in southern Bulgaria. Its largest shareholder is local Topgroup with a 49% stake, followed by Draft with 46% interest.
Shares in TPP Maritsa 3 last traded at 134.63 levs on the Bulgarian Stock Exchange's BaSE market, bourse data showed.
(1 euro=1.95583 levs)