Bulgaria PM to Ask Merkel about RWE's Pullout from Belene NPP

Business » ENERGY | October 7, 2009, Wednesday // 15:23| Views: | Comments: 0
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Bulgaria: Bulgaria PM to Ask Merkel about RWE's Pullout from Belene NPP Borisov is going to ask Merkel about the alleged pullout of RWE from Bulgaria's Belene NPP. Photo by BGNES

Bulgaria's PM, Boyko Borisov, is going to talk to his German counterpart, Angela Merkel, about the potential decision of RWE to withdraw from the Belene Nuclear Plant project.

This was announced by Borisov himself on Wednesday. The German media have recently published unconfirmed information about RWE’s withdrawal from the project for the second Bulgarian nuclear power plant, and Borisov’s statement might be construed as a confirmation of those reports, Bulgarian analysts have remarked.

In December 2008, the German energy giant RWE and the Bulgarian National Electric Company NEK sealed their partnership in which RWE was chosen to acquire 49% of the Belene NPP in exchange for a capital payment of EUR 1,275 B, a premium of EUR 550 M for NEK, and a loan of EUR 300 M for the purchase of equipment and other expenditures.

According to the German media, RWE is pulling out of the Belene project because of the rising costs of the NPP construction, and because of the intentions of Merkel’s new government to revive the nuclear energy in Germany.

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Tags: Belene NPP, Nuclear Power Plant, RWE, NEK, Angela Merkel, Germany, withdrawal
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