Russia's Rosatom Interested in Bulgaria Belene Nuclear Plant

Business » ENERGY | October 29, 2009, Thursday // 11:13| Views: | Comments: 0
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Russia's Rosatom Interested in Bulgaria Belene Nuclear Plant: Russia's Rosatom Interested in Bulgaria Belene Nuclear Plant Russian "Atomstryexport" say they are ready to begin construction of the Belene Nuclear Plant as soon as Bulgaria is ready. Photo by BGNES

The Russian State Corporation “Rosatom” continues to be interested in participating in the Bulgarian Belene Nuclear Power Plant (NPP) project.

The information was reported Thursday by the Russian daily “Vedomosti” citing a source from the corporation, and comes on the heels of the announcement of the German RWE that they are pulling out of the project.

“The NPP is slated to turn Bulgaria into the most important importer of electric power on the Balkans, but the project was halted after the cabinet changed in the summer of 2009. Initially Bulgaria declared they were discontinuing their relations with the Russian “Atomstroyexport” and then that because of the crisis they cannot finance the project and now RWE is withdrawing,” the article reads.

The previous plan was that EUR 4 B would be needed for the construction with a total price of EUR 10 B, including infrastructure. RWE had to deposit EUR 1,2 B and an additional premium in the amount of EUR 550 M plus securing a loan for EUR 300 M. Now the cabinet plans a public tender for the project, but it is unclear what would be the exact share offered for sale. Deputy Prime Minister, Simeon Djankov, announced the State is to reduce its share from 51% to 20%-30%, consequently, the new investor might get about 80% of the shares, according to “Vedomosti.”

The article further cites a source from the Russian Finance Ministry as saying there is no longer a consideration regarding Russia granting a loan in the amount of EUR 3,8 B, adding Russia offered the loan a year ago, but it was declined.

Meanwhile, a representative of “Atomstroyexport” told “Vedomosti” that the project is in danger and they were ready to begin construction as soon as Bulgaria is ready.

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