Bulgarian Nukes Merger under Consideration

Business | September 18, 2004, Saturday // 00:00| Views: | Comments: 0
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Bulgarian Nukes Merger under Consideration Bulgaria is searching for the best formula to promote the Belene construction project, even by merger with the Kozloduy power plant, Energy Minister M. Kovachev said. Photo by Yuliana Nikolova (novinite.com)

Bulgaria's nuclear power plant at Kozloduy may merge with the currently built second plant at Belene to form a single commercial entity, Energy Minister Milko Kovachev said on Saturday.

He pointed out that the idea was not a novelty, but various solutions to this effect were being discussed so that the new company was able to apply and receive loans for the Belene construction project.

The energy minister ruled out some commentaries that the idea was just another way to divert finances from Kozloduy for the construction of Belene reminding that the energy market in Bulgaria is on its robust route of liberalization. A single legal entity of the two nuclear plants will also avoid excess state guarantees, Milko Kovachev said.

Meanwhile, he declared that Bulgaria would not retreat from its position on the regional energy market even in the perspective of having a competitive power plant in neighboring Romania, which has plans to expand the Cherna Voda nuclear project.
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