The Financial Mines report has exposed dubious financial practices in the coal sector in Bulgaria over the past 15 years.
The in-depth investigation, conducted over the course of several months by Greenpeace Bulgaria, raises concerns about Bulgaria’s enigmatic energy tycoon Hristo Kovachki. The investigation sheds light on the banking and public interests that lie behind the economic activities fronted by Mr. Kovachki.
“The Financial Mines” focuses on 19 of over 150 companies that make up Mr. Kovachki’s energy empire. “Kovachi’s coal network” includes three power plants, eight district heating plants and eight mines. “The Financial Mines” shows the rampant social and economic problems arising from the work of these businesses, while pointing to the banking institutions that funded their financial transactions.