Bulgarian coal plant gets Hermes and Coface support

(Reuters, Sofia, 7 December 2005) - U.S. energy firm AES on Wednesday launched a €1 billion (US$1.17 billion) project to build a new thermal power plant in Bulgaria that would help the Balkan state remain the region's leading power producer. Under the 12.5-year debt facility, EBRD will lend 105 million euros, while the banks will provide the remaining funds, insured by EBRD, the German and French export credit agencies and the World Bank's investment guarantee agency MIGA.