Belgian Elektrabel Quits Bulgaria's Belene Nuclear Plant Project

Business | February 19, 2009, Thursday // 00:00| Views: | Comments: 5
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Bulgaria Belgian Elektrabel Quits Bulgaria's Belene Nuclear Plant Project: Belgian Elektrabel Quits Bulgaria's Belene Nuclear Plant Project Bulgaria's second Nuclear power plant at the town of Belene is duw to start up 2013-2014. Photo by BGNES

The Belgian company Elektrabel, a part of the GDF Suez, France-based energy supplier, decided Wednesday to abandon the project for the construction of Bulgaria's second nuclear power plant at the Danube town of Belene.

The news was announced late Wednesday night by the GDF Suez press office, as cited by the Pari Daily.

Elektabel was negotiating with the German management holding company RWE for cooperating in the building of the Belene nuclear plant.

The Belgian company explained that it wanted to concentrate on its own projects in France, Great Britain, Romania, and Abu Dhabi.

RWE confirmed Elektrabel's withdrawal, and said it would continue to develop the project as planned.

In December, the German energy company RWE and Bulgaria's state owned national electricity company NEK signed the agreement, with which RWE joins the project for the construction of Belene Plant.

Under the contract, RWE will receive a share of 49% of the Belene plant in exchange for a capital payment of EUR 1,275 B, a premium of EUR 550 for NEK, and a loan of EUR 300 M for the purchase of equipment and other expenditures.

The Belgian company Elektrabel was RWE's main competitor for the Belene tender. After its bid lost, the RWE management invited it to join in the project under its leadership.

Sources familiar with the Belene Nuclear plant project have said the global financial crisis had made raising funding extremely difficult, which may cause a delay in the plant start-up, originally planned for 2013-2014.
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» To the forumComments (5)
#5
Bill - 20 Feb 2009 // 10:19:01

Buddy:

"That means let somebody else get the paper work foryou, permitions etc. and we will participate in the implementation."

That's a lousy translation of "Trittbrettfahrer"! In English, a Trittbrettfahrer is merely a copycat.

#4
Buddy - 20 Feb 2009 // 07:26:19

Yea but the french use their own technology. Look at their safety requirements and implementation.

#3
Buddy - 20 Feb 2009 // 07:23:44

Well the german guys are always satisfied when they can jump on an project. In German its called 'Trittbrettfahrer' . That means let somebody else get the paper work foryou, permitions etc. and we will participate in the implementation.
So the BUlgarian Dunkey did the job fought the idea for a new nuclear plant" for the benefit of South Eastern Europe", and gives now that benefit to the german company. What else could you expect from dish lickers? An future oriented policy? New orientation? No there is only one ally and way, with the Germans on the Back of the Russian... LOL

#2
NellieotAmerica - 19 Feb 2009 // 16:42:54

@Taro

"Well, Nuclear Power isn't clean and cheap at all..."

Yeah, right.....Tell that to the French who get 80% of their electricity from nuclear power plants.

#1
Taro - 19 Feb 2009 // 16:12:09

Well, Nuclear Power isn't clean and cheap at all...

Greets
Taro

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