Russian Drone Strikes Ravage Ukraine
Russian forces have launched a devastating drone attack across the entirety of Ukraine, leaving a trail of destruction and casualties in its wake
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Bulgarian will get a loan from the Russian Federation for the construction of the Belene Nuclear Power Plant in six months at the earliest.
This was announced by Bogomil Manchev, whose company "Risk Engineering" is a consultant for the construction of the NPP.
Manchev told the Pari Daily that the Russian Ministry of Finance was currently considering its conditions for giving Bulgaria the credit in question, which would then have to be agreed upon by the Bulgarian Finance Ministry.
According to Ivan Atanasov, who is charing a working group for the coordination of the Belene Project at the Bulgarian Energy Holding, Bulgaria is now expecting a letter with the conditions and exact amount of the loan.
In his words, the Bulgarian side is not going to give state guarantees for the credit in question. The Bulgarian government will have to decide which Bulgarian institution would be the beneficiary of the loan.
Atanasov has also said the repayment period would most likely be around 15-20 years.
Bulgaria needs about EUR 3,8-4 B in order to finance the construction of its second nuclear power plant. Its National Electric Company NEK was hoping to secure an international bank loan for that purpose but the global financial crisis has practically ruled out this possibility.
During the signing of the Belene construction contract with the Russian company Atomstroyexport, the Russian side promised to fund the project with a government loan, if necessary.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
A remarkable shift in Bulgaria's energy landscape has been unveiled in the latest report from the Commission for Energy and Water Regulation, submitted to the Bulgarian parliament
Natural gas prices in Europe experienced a significant spike, surpassing 2% to reach 29 euros per megawatt-hour (MWh) on Monday
Amidst Ukraine's urgent need for additional power sources following the closure of the Russian-controlled Zaporizhzhia nuclear power plant
Bulgarian lawmakers have taken a significant step toward bolstering the nation's energy infrastructure by advancing cooperation with the United States for the construction of Units 7 and 8 at the Kozloduy Nuclear Power Plant
The Bulgarian Parliament has ratified the Agreement between the Government of the Republic of Bulgaria and the Government of the United States on cooperation regarding the construction of nuclear power at the Kozloduy Nuclear Power Plant
During a forum in Alexandroupolis, US Assistant Secretary of State for Energy, Jeffrey Payatt, highlighted the significance of a gas pipeline project through Bulgaria as the next pivotal step for energy development in the region
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022