Bulgaria, Russia to Look into Options for the Future of Belene NPP Project

Business » ENERGY | July 29, 2016, Friday // 15:40
Bulgaria: Bulgaria, Russia to Look into Options for the Future of Belene NPP Project

Bulgaria and Russia will establish a joint working group to consider options for the future of the abandoned Belene nuclear power plant project after the ruling of the International Court of Arbitration.

The ruling issued last month requires Bulgarian state-owned electricity company  NEK to pay EUR 550 M to Russia’s Atomstroyexport as compensation for the equipment already manufactured for Belene.

Bulgaria cancelled the project on the Danube river in 2012.

The agreement to set a joint working group was reached at a meeting in Moscow of Bulgarian Energy Minister Temenuzhka Petkova and senior officials of Russia’s State Corporation for Atomic Energy Rosatom,the parent company of Atomstroyexport, the Energy Ministry in Sofia said in a statement on Friday.

Experts in the working group will aim to reach a solution beneficial to both parties as quickly as possible, according to the statement.

Bulgaria needs the consent of the Russian manufacturer to sell the 1,000 MW nuclear reactor and other equipment built for Belene.

Main opposition Socialists urged Bulgaria’s centre-right government earlier this month to find a strategic investor to complete the project.

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Tags: Petkova, Moscow, Bulgaria, Russia, Rosatom, Atomstroyexport, Belene, Nuclear Power Plant,  
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