The Bulgarian Branch Chamber of Energetics awarded Momchil Andreev as Energist of the Year for 2017 in the Electricity Distribution Sector

On the occasion of Energy Day, June 18, the Board of Directors of the Bulgarian Branch Chamber of Energetics presented the annual Energetic of the Year awards. This year the award in the Electricity Distribution section was awarded to Momchil Andreev — Chief Executive Officer and Chairman of the Management Board of ENERGO-PRO Varna EAD, which trades electricity and supplies electricity to the territory of North-East Bulgaria. The award expresses the recognition of the professional community to distinguished experts in the sector for their high results.

In 2016, ENERGO-PRO Varna achieved consolidated revenues of BGN 954 million, net profit increased to BGN 44 million, an increase of 43% compared to 2015, and losses were reduced by 1%.

ENERGO-PRO Varna issued a bond issue worth 130 million euros. The issue is a record for Bulgaria and is among the significant bond loans in Central and Eastern Europe. It was attended by 23 leading international and Bulgarian banks, pension funds and asset management companies.

ENERGO-PRO has consolidated its leading position in the free electricity market, increasing by more than 4 times the number of its customers over the past year. The company supplies nearly 20% of energy to the open market and supplies 15,000 customers. ENERGO-PRO Energy Services was the first to offer on the Bulgarian market Certificates that customers purchase 100% green energy.

Momchil Andreev graduated from the Moscow State Institute of International Relations. He has specialized in finance and banking in Austria, Germany, Luxembourg, Czech Republic, USA, Switzerland and France. He was Chairman of the Management Board and Executive Director of Bulgarian Postal Bank AD, member of the Management Boards and Executive Director of CCB, Bulbank and Raiffeisenbank. For 10 years he was Chief Executive Officer of Raiffeisenbank Bulgaria and Director of Raiffeisen Group for Bulgaria. He is a member of the board of directors of the National Energy Chamber.

ENERGO-PRO Varna is a subsidiary of Czech Energo-Pro a.s., one of the most dynamically developing energy groups in the European Union with investments in several European countries and countries of the Black Sea region. Energo-Pro a.s. is active internationally in the sectors of electricity distribution, production of electricity from hydropower, electricity trading and production of machinery and equipment for the hydropower sector.