Implementation phases

Phase 2
Phase 3
Phase 4
Phase 5
Phase 6
Hydro power project Tsankov Kamak
On the 2nd of April 2004 the British magazine EUROMONEY defined the construction of Hydro power project Tsankov Kamak as the best deal of year 2003.†The financing of the project includes many sources - consortium of banks and export and commercial credits.
First pilot project under the joint implementation scheme to the Kyoto Protocol based on a Memorandum of Understanding between the Republic of Bulgaria and the Republic of Austria
Development in the middle section of the Vacha Cascade and adequate utilization of the available hydro power potential along the river valley Vacha
Export and commercial credits in the amount of 220 million Euro without sovereign guarantee
Main facilities
Dam Tsankov kamak
ē 111 million m³ water volume
ē Double curvature arch concrete dam wall
HPP Tsankov Kamak
ē 80 MW installed capacity
ē 1185 GWh annual energy output
Underground pressure derivation
ē 546 m long
2004 - 2008
Operation date

Double curvature arch concrete dam wall
Volume: 111 000 000 m³
Maximum dam height: 130 m
Dam crest elevation: 688 m
Dam length along the crest: 468 m
Dam chord: 345 m
Volume of concrete: 465 000 m³
Vertical scheme Dospat -†Vacha cascade†

Schematic layout Tsankov Kamak project

Project start

On the 29th of April 2004, the Bulgarian Prime minister Simeon Saxcoburgotta announced the beggining of the construction of Hydro power project Tsankov Kamak.
Hydro power project Tsankov Kamak is situated on Vacha river, which is on of the big Bulgarian rivers. At the present moment †there are six hydroelectric power stations on the river Vacha with total installed power of 446 mWt and annual electric production of 543 GWh. The water-power sustem is being built in the middle section of the river. The project comprises of:
  • Tsankov kamak dam with total volume of 111 000 000 m≥. The dam is an arch concrete dam with double curvature. In the left and the right bank the dam ends with gravity blocks and its arch part is completely symmetrical. The maximum dam height is 130.5 m, dam crest elevation is 688.5 m† and the highest†blocks are founded on elevation 558 m. Dam length along the crest is 468 m, and the chord is 345 m. The volume of the concrete to be inserted isto the dam is 465 000 m3.
  • Hydropower station Tsankov kamak with capacyty of† 80†MWt and average annual power production of 185 GWh
    • underground water derivation with total lenght 540 m.
    • relocation of the road Devin - Mihalkovo
The terms for completion of the project is 5†years. The hydropower plant will be a property of the Bulgarian national Electric Company - NEK AD.

Financing of the project
The total value of the project is 220 million Euro. žŤŽŤÓŪŗ Ň‚ūÓ. It is financed by export and commercial credits without sovereign guarantee. The financing contracts are signed on the 14th of November†in Vienna.†The half of the sum (100†million Euro) is covered by an export credit, guaranteed by the Austrian bank Oesterreichische Kontrolbank Aktiengellschaft (OeKB).†The rest of the sum is covered by commercial credit.†The overall financing includes the following participants:
  • VA TECH Finance -†Leading bank - organizer;
  • Bank Austria†† Creditanstalt - Bank organizer of the export credit amounting 100 million euro with the following banks: Fortis Bank, Raiffeisen Zentralbank, Societe Generale;
  • Credit Suisse† First† Boston - Bank organizer of the commercial credits;
Oesterreichische Kontrolbank Aktiengellschaft (OeKB) provides the export insurance, covering the political and the commercial risks of the export credit ammounting 100 million Euro. OeKB also provided insurance of four additional export credit agencies:†Coface†from France; Hermes†from Germany; EKN from Sweden and†Egap from the Czech Republic.

Energy significance
The exploitation of hydroelectric power plant Tsankov Kamak will improve the function of the other hydroelectric power plants on Dospat-Vacha cascade.†The construction of the missing middle section of the cascade will contribute to the complete absorption of the present hydroelectrical potential of Vacha river.
The high level of manoeuvring of the hydroelectric power contributes to the enhancement of the energy efficiency during the exploitation of the electrical production powers in the energy system.
Regarding this the hydroelectric power plant Tsankov Kamak†will cover peak electric charges and ensure electric reserves in case of dropped off main powers.

Social significance
In the period of construction of the hydro power project will be engaged work force from Bulgarian construction companies. The full capacity of the construction works foreseens the opening of 700 new work places.†After the completion of the construction works, 50 workers and specialists of the adjasent cities will be hired for the needs of the hydroelectric power plant.†This will have a strong social effect leading to lowering of the unemployment in the region.
The construction of hydroelectric power plant Tsankov Kamak will stimulate the development of the regional infrastructure and communications.†A significant role will take the reconstruction of Devin-Mihalkovo road.†The project is included in the regional program for development. The project will stimulate the construction of new purification station for the town of Devin as well as new dung-hill.
In nation-wide scale the construction of the hydroelectric power plant will influence different economical sections, connected with the production of electrical equipment, transportation and servicing. The construction sector of the economy will be stimulated by orders for cement, steel and other construction materials. New conditions for fish-breeding and tourism in the town of Devin will be developed.
There are no residential buildings and agricultural equipment in the area of Tsankov Kamak dam, which means that the realization of the project does not require migration of the population.

Due to the†realization of the hydro power project Tsankov Kamak, the emisions of harmful gases, sulphur oxides, nitrogen oxides, dust and —ő2, that are released in the production of electricity by thermoelectrical power plants, will be reduced.
According to the Kyoto Protocol in the period of 2008†to 2012,†Austria and Bulgaria are charged to lower the emissions of harmful gases. The project allows the saved emissions of —ő2 to be granted to Austria in order to complete her obligations according to the Kyoto Protocol. The reduced emissions are paid to Bulgaria by Austria†with a price of 10 USD per ton of reduced emissions.
The forecasted reduced emissions from the thermoelectric power plants, by using the Dospat-Vacha cascade and the construction of hydroelectric power plant Tsankov Kamak†as well as the rehabilitation of the rest four hydroelectric power plants is†228 000†tons of†—ő2 annually.
The region of hydroelectric power plant Tsankov Kamak is not near to any protected national parks and areas.