Russia's state-owned Atomstroyexport will design and build Belene nuclear plant two twin 1000 M reactors under a controversial EUR 4 B deal. Photo by Yuliana Nikolova (Sofia Photo Agency)
Bulgaria's Former Minister of Economy and Energy Rumen Ovcharov has been drumming support for the construction of a new nuclear power plant, the country's second, near the northern town of Belene, across the Danube from Romania.
"Electricity prices will be reduced twice if Bulgaria completes Belene projects despite the numerous opponents," Rumen Ovcharov, currently MP from the Socialist Party, said on Sunday during his visit to the town of Nova Zagora.
The long-awaited and controversial EUR 4 B deal that will see Russia's state-owned Atomstroyexport design and build two twin 1000 M reactors was sealed at the end of January during the visit of Russian President Vladimir Putin to Sofia, more than a year after Bulgaria picked the firm.
The total costs of the project are expected to run much higher, to the tune of EUR 6-7 B, and Russia is interested in developing the lucrative project further.
Construction on the twin units is expected to begin in the second half of the year, with 2014 and 2015 as the tentative deadlines for the two reactors to go online.
Critics say the project is economically flawed, open to corruption and mismanagement, and cements Russian dominance of Bulgaria's energy sector while the government says global energy pressures make the project necessary.
Rumen Ovcharov has also been one of the most ardent proponents of Bulgaria's efforts to reopen units 3 and 4 of Kozloduy Nuclear Power Plant.
The two Soviet-made 440 MW reactors were closed down on January 1, 2007, as part of Bulgaria's EU accession agreements on grounds that they are outdated and dangerous. There have been heated debates about the actual motives behind this move.