Bulgaria, Russia Sign Debt Settlement Deal on Belene Nuclear Project

Business » ENERGY | October 26, 2016, Wednesday // 12:16
Bulgaria: Bulgaria, Russia Sign Debt Settlement Deal on Belene Nuclear Project Rosatom's first deputy CEO Kirill Komarov (L) with Bulgarian Energy Minister Temenuzhka Petkova. Photo: BGNES

Bulgaria has committed to a fast-track payment of the debt on the Belene nuclear power plant (NPP) project, Energy Minister Temenuzhka Petkova has said.

In return, Atomstroyexport, the company which was involved in the Belene NPP, will not demand interest generated on the money.

State owned National Electricity Company (NEK) has a deadline until December 15 to pay the full amount of more than EUR 0.62 B.

If it complies with the deadline, EUR 23 M worth of interest will be cancelled, Focus News Agency quoted Petkova as saying at a press conference.

In her words, two documents signed between NEK and Atomstroyexport on Wednesday solve a problem in bilateral relations.

The EU will now have to give its stance on the disbursement of state aid to NEK, which the Bulgarian government approved earlier in September, as a way to pay off the debt.

Kirill Komarov, first deputy CEO of Rosatom, who also attended the press conference, confirmed the information.T

The Belene NPP was abandoned in 2012. In June of this year, Bulgaria lost an arbitration lawsuit filed by Atomstroyexport over the project's cancellation.

In return, Bulgaria will receive the nuclear reactor and equipment produced for the plant's purposes.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: Belene NPP, Belene, nuclear, Atomstroyexport, NEK, Temenuzhka Petkova, Kirill Komarov
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria