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KozloduyNPP Unit7 Agreement Sets No Financial Commitments for Bulgaria

Business » ENERGY | August 11, 2014, Monday // 15:19| Views: 1146 | Comments: 0
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Bulgaria: KozloduyNPP Unit7 Agreement Sets No Financial Commitments for Bulgaria Photo by BGNES

The shareholder agreement with Westinghouse on Kozloduy NPP unit7 does not tie Bulgaria to any requirements for investments, state guarantees or mandatory purchase contracts.

The company issued a statement to shed light on the agreement, which was published on the website of the Kozloduy N-plant on Friday.

Westinghouse Electric made clear that certain parts of the agreement had been deleted so as not to confer an advantage upon rival companies.

The company informed that the agreement required it to work on determining the price and financing arrangements, the scope of the license, the capacity of local suppliers, the minimization of risk and the guarantees for the participation of Bulgarian companies to the highest possible operational level.

It also noted that it would provide an analysis of future electricity demand and an estimated price of the electricity produced by the planned unit 7 of the Kozloduy N-plant.

Westinghouse Electric explained that the shareholder agreement envisaged a framework which made it possible to discuss opportunities for securing as low a price tag as possible.

The company made clear that Bulgarian government would be able to pick the best out of a range of scenariosas soon as the analyses were ready.

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Tags: Kozloduy NPP, N-Plant, Unit 7, Nuclear Power Plant, Westinghouse, Unit 7
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