Stelian Koev: "New technologies will give a future to the Maritza-East complex"

Even without a formal start of the Fair Transition Mechanism and the implementation of the Green Deal, 2020 was a very difficult year for Mini Maritsa East EAD - the largest coal mining company in Bulgaria. This was said during the online international meeting held by the Institute for Sustainable Transition and Development "Diversification of the economy and transition to sustainable development in mining areas" the financial director of the company Stelian Koev.

The virtual event brought together representatives of the governments of Germany and Bulgaria, local administration, business, academia and trade unions to discuss the approach of Stara Zagora and the region based on the experience of the German region of Leipzig in the energy transition.

According to Koev, the Maritza East Mines currently employ just over 7,000 people. "In 2020, we experienced a 22% reduction in coal production. This was an extremely negative blow to our financial results. Therefore, by the end of 2020 we have formed something like a "brain trust", together with the directors of thermal power plants in the complex "Maritsa East", who are our customers. The reason to form it was to start a discussion about the applicable projects that can be used for the future of the complex, "explained Stelian Koev. He added that the main goal of the company's management is to try to keep as many jobs as possible, as well as to preserve the income of people from the region, emphasizing that this is very important for local municipalities - Radnevo, Galabovo, Stara Zagora, Haskovo, Sliven and Yambol.

"We believe that projects such as CO2 capture and storage can achieve our goals of preserving jobs in the complex. At the same time, projects like these can meet the goals of the European Commission, which are to reduce CO2 emissions.

He specified that there are already similar projects implemented in the United States and Northern Europe.

"We know that these technologies are new, there may be technical problems with their implementation, but they will inevitably be resolved in the near future. And they can be realized in our complex. At the same time, we have no doubt that projects like this can go hand in hand with others, incl. hydrogen, renewable energy, retraining of people, etc. ", said Stelian Koev during the meeting.

He said he was convinced that enough funds could be found for these projects. "For us as a management, it is important to make sure that local people will have enough job opportunities and keep their income to use here in the region. In conclusion, we must not forget that the motto of the EC and the EU on energy transformation is that no one will be abandoned. " said Koev in the final.