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We celebrate World Hydropower Day!

Water is the energy that moves the world!

Did you know that about 70% of the Earth's surface is covered by water? It is water that is one of the key resources for green energy production.

On 11 October we celebrate World Hydropower Day! This year's theme focuses on the positive impact of sustainable hydropower on the lives of people and communities around the world.

In Bulgaria, NEK is the leading producer of electricity from renewable sources thanks to hydro power plants and pumped storage hydro power plants. By generating energy from water resources, NEK contributes to the achievement of Bulgaria's and the EU's ambitious climate neutrality targets.

Boyana HPP received a special certificate for flawless operation and maintenance from Siemens Bulgaria

Boyana HPP was awarded a certificate for flawless operation and maintenance, presented to Eng. Martin Georgiev, Chief Executive Officer of NEK, by Dr. Eng. Boryana Manolova, Chief Executive Officer of Siemens for Bulgaria, North Macedonia and Ukraine. This recognition is the result of long reliable operation of Siemens equipment at the plant, which celebrates its 100th anniversary this year.

Eng. Martin Georgiev expressed his gratitude, saying: „I am honoured to receive on behalf of NEK this certificate for flawless operation and maintenance of Boyana HPP from Siemens Bulgaria“. Martin Georgiev stressed that "Siemens is a company with nearly 200 years of history and 145 years dedicated to the technological development of Bulgaria. Boyana HPP is a shining example of innovations introduced a century ago that continue to provide a stable foundation for our energy future. I am confident that the excellent long-standing cooperation between our two companies will continue in the future.“

"It is a great honour for me to be here today, in front of you, on behalf of Siemens Bulgaria, a company that has the privilege to be part of the incredible history of this exceptional facility - the Boyana Hydro Power Plant," said Dr. Eng. Boryana Manolova. „This certificate not only confirms the reliability of Siemens technologies, but also proves that when we invest in sustainable solutions and maintain them with care and expertise, we can create lasting value for future generations.“

The ceremony was attended by Prof. Dr. Veselina Kanatova-Buchkova, Chairwoman of the Board of Directors of BEH, Mr. Moritz Seiler, Head of the Economic Department of the German Embassy in Bulgaria, representatives of the management of both companies, employees of the plant, as well as customers and partners of Siemens. The event highlighted the importance of the long-term partnership between NEK and Siemens in the field of sustainable energy and innovation.

The plant is not only the oldest plant in NEK, but also one of the first plants in Bulgaria. It continues to operate with its authentic equipment, producing clean electricity with no carbon footprint.



PRESS RELEASE

Standard & Poor's upgrades NEK credit rating outlook to positive

The international rating agency Standard & Poor's has upgraded their outlook on NEK from stable to positive and affirmed their 'BB' long-term issuer credit rating on the company The enhanced outlook means the company is managing its funds and borrowings in a reliable and balanced manner. The improved outlook represents another step forward after the agency upgraded NEK's rating from BB- to BB last year due to improved credit metrics.

S&P expects the company's profitability to improve and its leverage to decline after the retail market liberalisation in 2026, which in turn could lead to a credit rating upgrade.

"The increased outlook and the expectation of a credit rating upgrade by the leading international rating agency S&P is an important success for the Bulgarian energy sector. This is the result of the consistent work and strategic support of the state. I am confident that this success will contribute to the sustainability and development of our energy system," said Energy Minister Vladimir Malinov.

S&P views NEK as a subsidiary of strategic importance to BEH, given NEK's important role in Bulgaria's energy system as a producer of emission-free hydropower, a supplier of last resort and a public electricity supplier. The rating agency also takes into account the fact that NEK has managed to transform itself from a loss-making company in a certain past period to a company that contributes nearly 10% of BEH's gross profit.

 

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