If it continues at this rate, the promise of Assen Vassilev for clearing the energy sector will certainly not be completed until the end of his tenure of the minister’s position. Nearly a month ago the Harvard graduate from Haskovo put a hook for the media, prompting at for spectacular reshuffles lying ahead. Then the flame was quickly extinguished and there is now only a loose smoke.
Just days after his appointment Mr. Vassilev announced plans for staff changes in state energy companies and specifically mentioned only the Bulgarian Energy Holding (BEH). Then all the journalistic questions related to this topic, were answered: Wait, until we’re ready to announce the changes. And while everybody was waiting, last week the Minister threw another hook – a total of 23 heads of 13 companies will bid farewell to their offices.
The first special case, of course, was the Executive Director of NPP Kozloduy Valentin Nikolov – blatantly political appointment of GERD in the country’s first atomic complex there with the sole purpose of controlling who wins public procurement tenders with the plant. But what turned out at the end? Nikolov was not asked to leave despite the inspection by officers of the Council of Ministers, where violations were found in contracts under procedures announced by the plant.
Assen Vassilev said there will be a competition to appoint a new head of NPP Kozloduy but until then Nikolov will continue to be CEO of the company. A past experience with competitions for the selection of supposedly proven professional to lead an energy company, has revealed that they have been dragging on for several months. Collection of concepts of the candidates, their hearing and screening … plus the fact that by then there surely be a new government, means that anything can happen. During this time the plant will run critical processes. A planned repair of V block for which the subsidiary company – Kozloduy NPP New Facilities has began a procedure for the preparation of a risk assessment of the project to build a new reactor at the site, inviting all stakeholders to declare intent to participate.
The risk assessment will be used in the decision by the Government to build a new nuclear power unit in the Plant and expect its contribution and any negotiations for the participation of potential investors, says the ad. So this key project as well as the repair of the V block remain under the direction of Valentin Nikolov.
However, the specialist in internal combustion engines and kids snacks has already been released this week by the board of BEH. With him was dismissed also Ilko Zheliazkov – a 1990 psychology graduate from Sofia University St. Kliment Ohridski who in 1981 began working in the Ministry. Since 2007 he has been the head of the Security and Defense Mobilization in Agency State Reserve and War-Time Stocks. Lieutenant Zheliazkov was revealed by the Dossier Commission to be part of the officers of the former State Security recruit agents. But for now Zheliazkov remains on the board of the state Maritsa East II.
The two newly appointed people to the BEH Deputy Economy Minister Bojan Stoyanov, for whom it is not yet clear whether or not he was an agents of the state security and the recognized specialist – Todor Shopov, former Deputy Executive Director of Sofia Airport JSC, member the Advisory Board of the Court. Before his appointment to the holding Shopov was executive director and member of the board of directors of one of the ground operators of the metropolitan airport – Goldear Handling Bulgaria.
Executive Director of BEH however was Michael Andonov. The decision of Minister Vassilev causes many questions. Currently Andonov is being investigated by prosecutors for the period April 18, 2011 – 5 October 2012, because in the period as CEO of NEC he did not invested the due care in the management and operation or maintenance of property entrusted to him, which resulted in significant damage to the company, totaling over 189 million levs. Moreover, in the period 15 September 2011 – 5 June 2012 as CEO of NEC and subsequently the energy holding Michael Andonov iknowingly made disadvantageous contracts – some of them for legal services, and this caused significant harm to the undertaking – which constitutes a crime under Articles 220 and 26 of the Criminal Code.
Chief of BEH is also one of the well-off energy officials. From his financial statement, delivered a few days ago to the Court it turns out that with his wife Nellie last year they bought a brand new apartment of 111 square meters in the residential district Manastirski Livadi for a very attractive price of 117 thousand levs, or about 1,000 levs per square. The assets of the family include another apartment – 125 square meters in the residential district Ovcha Kupel in Sofia, a land lot in the district of Galabovo and two houses in the village of Dren – Radomir. But in 2012 Andonov definitely made the deal of his life – he managed to buy 14 acres of land at Avdera (Abdera), Xanthi – Greece, for the phenomenal price of 9200 levs. For those unfamiliar with the peculiarities of the Greek coast will clarify that this part of the neighborhood is known for its exceptionally beautiful and quiet beaches.
Just as NPP Kozloduy, also BEH are yet to become more and more attractive. Two days ago, without a lot of fuss, U.S. bank City Group was ranked first in an announced on March 7, procedure for selection of investment advisors to structure and sell a bond issue for 250 million . The aim is to repay through bridge financing a loan of 195 million, drawn from NEC for the preparation of the construction of NPP Belene, maturing on May 21.
In parallel with the procedure for the selection of an investment adviser another one was announced – for a bank loan of 250 million euros for the rapid repayment of debts of NEC. But because of lack of interest in it, this option has failed.
BEH not yet announced who will be the legal advisor of the structure of the bond issue. The company received ten proposals, but two of them were disqualified because they do not meet the eligibility requirements.
The BANKER
