Bulgaria receives 13 applications for participation in Belene nuclear power project

The Ministry of Energy of Bulgaria has received 13 applications for participating in the Belene nuclear power project, in the wake of a call to investors to declare interest in acquiring a minority shareholding in the project, and/or for buying electricity from the power plant.

Seven companies have expressed interest in taking part to the project as strategic investors, namely Rosatom (through Atomenoergoprom), China National Nuclear Corporation (CNNC), Korea Hydro Nuclear Power (KHNP), Bektron-Liaz Technical Engineering (Germany), two consortia (Belene NPP and Nuclear Power Plant Belene 2019) and a Bulgarian company IPK and UP. The Ministry of Energy, Bulgarian Energy Holding (BEH), Natsionalna Elektricheska Komapania (NEK) and Electricity System Operator (ESO) will prepare a shortlist of the companies that have expressed interest in taking part in the Belene project as strategic investors within 90 days. The entire selection process is expected to last one year.

The €10bn project should be developed by a special company, in which the NEK should own a stake. The government doesn't plan to provide any funding guarantees, nor to buy electricity from the project under a long-term contract, and requires the project to be commissioned within ten years of signing a shareholder's agreement. Moreover Framatome (previously Areva NP) and General Electric have declared interest in taking part in structuring the financing of the project and in providing equipment for the project. Two Bulgarian companies have expressed interest in acquiring a minority shareholding in the company, namely Atomenergoremont and Grand Energy Distribution. The latter has also applied for purchasing electricity, along with European Trade of Energy.