Will Bulgaria Have a Stable Government After Yet Another Election in June? Our Readers Have Spoken
On our Facebook page, readers were asked about Bulgaria's stability after the June elections
Novinite Insider | April 19, 2024, Friday // 17:30
Bulgaria Contracts HSBC on Belene Nuclear Project Monday
- Tweet
Send to Kindle
Borisov's U-turn in favor of the controversial nuclear plant Belene, whose site currently just looks like a plot of barren land, has fuelled suspicions that links between the mafia and the political system run deep in the energy sector. File photo
The Bulgarian Energy Holding will sign on Monday a contract with HSBC, one of UK's biggest banks, for consultancy services, to help it decide how to proceed and attract new investors for the planned Belene nuclear power plant.
"With this step the project enters a crucial stage. The conclusions of the consultant will be the answer to the question whether or not Belene nuclear power plant will be built," Economy and Energy Minister Traicho Traikov said on Sunday.
The statement comes just days after Traikov drew the ire of Prime Minister Boyko Borisov after he slammed and dismissed the National Electric Company head Krasimir Parvanov for signing an agreement with Rosatom's subsidiary Atomstroyexport that potentially threatens Bulgaria's national interests by obliging the Bulgarian government to reach a final agreement with the Russians on Belene by June 1, 2001.
The plant was originally to be built by Russian company Atomstroyexport for EUR 4 B. The firm had signed a contract with the previous, Socialist-led government, swept from power by Borisov's conservative GERB party swept in last year's July elections.
Due to the delays in the launch of the construction works, stalled over price disputes and funding problems, Russia now says the project construction price should be increased to EUR 6.3 B.
Bulgaria's new center-right government suspended the construction of the nuclear power plant last year until it finds a new investor and funds to complete the project at Belene, on the Danube, 180 kilometres northeast of the capital Sofia.
The Bulgarian Energy Holding picked in November 2010 HSBC, one of UK's biggest banks, for a consultant to help it decide whether the project is economically feasible.
Six candidates submitted at the end of March documents to bid in the tender opened by the Bulgarian Energy Holding for Belene consultant - HSBC, Societe Generale, KPMG in a consortium with McGuire, Rothschild, Argil, and Ernst & Young.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Related Articles:
CIA Director Warns: Ukraine Could Lose War Without Increased US Military Aid
CIA Director William Burns has issued a stark warning, asserting that Ukraine may face defeat in its war against Russia by the end of this year if the United States does not step up its military assistance
Bulgaria Takes Action Against Whooping Cough Outbreak: Minister Kondeva Announces Measures
In response to the recent deaths of two newborns due to whooping cough, the Ministry of Health in Bulgaria has implemented measures to curb the spread of the disease
Bulgaria's Domestic Violence Statistics: 80% Male Perpetrators, 20% Female
In Bulgaria, a stark reality persists regarding domestic violence, as highlighted by Assoc. Dr. Aleksey Pamporov from the Institute of Philosophy and Sociology at the Bulgarian Academy of Sciences
Crime | April 19, 2024, Friday // 16:02
Taxi Drivers in Bulgaria Demand Significant Fare Increase
Amidst growing discontent among taxi operators across Bulgaria, drivers in major cities like Burgas, Varna, and now Plovdiv are demanding a substantial hike in fares to cope with rising operational costs
Society | April 19, 2024, Friday // 15:30
EU Commissioner Johansson Evaluates Schengen Controls at Sofia Airport
EU Commissioner for Home Affairs Ylva Johansson conducted an inspection of border control measures at Sofia Airport, marking a significant step in Bulgaria's accession to the Schengen Area by air
Bulgargaz Anticipates Liquefied Gas Deliveries via Alexandroupolis Terminal In May
In a bid to enhance its energy security and diversify its gas supply sources, Bulgargaz is gearing up for the first deliveries of liquefied gas through the Alexandroupolis terminal, set to commence in May
Greek Electricity Giant Acquires Bulgarian Solar Parks
The Greek national electricity company, PPC, has announced plans to acquire 500 megawatts of photovoltaic capacity in Bulgaria
Oil Prices Surge Amid Middle East Tensions
Oil prices have surged due to renewed concerns about the Middle East conflict. Brent crude futures increased by 0.32% to 90.80 USD per barrel, while American WTI crude rose by 0.3% to 86.50 USD per barrel
Bulgargaz Loses 27% Market Share Due to Contract with 'Botas
Bulgaria's state-owned energy company, "Bulgargaz," has suffered a significant setback, losing 27% of its market share as a result of a contract with the Turkish company "Botas"
Bulgaria Sees Surge in Solar Power and Coal Plant Decline in 2023 Electricity Report
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
Europe Natural Gas Prices Surge to EUR 29/MWh Following Russian Attack on Ukrainian Facility
Natural gas prices in Europe experienced a significant spike, surpassing 2% to reach 29 euros per megawatt-hour (MWh) on Monday
