Bulgaria's Inercom divests solar power assets to save CEZ deal
Bulgarian energy producer Inercom said it has divested its solar energy business to clear regulatory objections to its takeover of the Bulgarian assets of Czech utility CEZ.
Bulgaria’s Commission for Protection of Competition said in July the deal could help Inercom establish a dominant position in the country, hurting competition, as the company already has several photovoltaic (PV) projects in southern Bulgaria.
“A restructuring was carried out within Inercom Group, as a result of which the companies producing electricity from photovoltaic power plants are not part of its portfolio,” Inercom said in a statement on Friday.
It added that it expects a quick reaction from the regulator.