The Procedure for Choosing a Strategic Investor in Belene NPP Starts

Business » ENERGY | March 11, 2019, Monday // 14:03| Views: | Comments: 0
Bulgaria: The Procedure for Choosing a Strategic Investor in Belene NPP Starts

The state has launched the procedure for choosing a strategic investor in the Belene NPP project.

NEC is inviting investors to build the plant, the Ministry of Energy announced.

"The invitation also gives an opportunity to declare an interest in acquiring minority participation in the future project company as well as / or purchasing electricity from the future power plant The purpose of the invitation is to provide certain information to the countries wishing to participate in the procedure, "the agency adds.

In fact, the only interest in the project so far a strategic investor is China's National Nuclear Corporation.

The Bulgarian side will participate in the project company, which exploits the Belene NPP with an in-kind contribution of the assets, including the licensed site, the available equipment, the issued decisions, permissions, licenses and other documents related to the project, according to the energy department.

They argue that a number of conditions are laid down in the procedure in order to maximally protect the property interests of the Bulgarian side. The Bulgarian State, through NEK EAD, reserves the right to a blocking quota in decision-making on certain matters within the competence of the General Meeting of Shareholders of the project company. It is envisaged that the construction of the plant will be realized on a market principle, without concluding long-term contracts for the purchase of electricity by the state and providing state guarantees.

An application for participation in the procedure of selecting a strategic investor, respectively interest in acquiring minority shareholding in the project company, may be submitted by Bulgarian or foreign legal entities, as well as by associations. The time limit for the receipt of requests to participate shall be 90 days from the date of publication of the notice in the Official Journal of the European Union.

The indicative deadline for the completion of the procedure is 12 months from the date of publication of this notice in the Official Journal of the European Commission.

A few days ago, Deputy Prime Minister Tomislav Donchev announced that Macedonia and Serbia have expressed a fundamental interest in equity participation in the Belene NPP project as consumers of the electricity generated by the future nuclear power plant.

Macedonian Economy Minister Kreshnik Beckesi pointed out last week that they are expecting specific financial parameters from Bulgaria to decide what their participation in the project. This happened at the first meeting of the Intergovernmental Bulgarian-Macedonian Commission for Economic Cooperation.

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