Arca Capital acquired biomass power plants in Bardejov and Topoľčany
Arca Capital (Rastislav Velič) paid €60m to acquire two large biomass power plants in Bardejov and Topoľčany. It has acquired a 51% stake back in 2016 and bought out remaining owners at the end of last year. The power plants were built by a group of Austrian and Slovak investors. In 2014, they were fined for burning quality wood, violating legislation that only allows wooden waste. Environmental activists have recently pushed through legislation through parliament that stops lavish state subsidies for burning quality wood. Arca Capital will link the power plants to its other activities—it will heat its own industrial park in Topoľčany and will buy sawmills in Eastern Slovakia that will provide wooden waste.