The Bulgarian Parliament has mandated the Ministry of Energy to resume the search for private investors regarding the construction of a second nuclear reactor at the Belene site. The government will now coordinate negotiations with potential investors and equipment manufacturers and propose a course of action to structure the project by the end of October 2018.
The construction of the Belene power plant started in 1987 but was stopped in 1991 and revived again in 2002, when Atomstroyexport was selected in 2006 to build two 1,000 MW VVER-1000 reactors. In 2012, the €10bn project failed to attract investors and was cancelled. In June 2016, an international arbitration court ruled that Bulgaria should pay compensation for nuclear equipment it ordered from the Russian company before cancelling the project. However, Bulgaria is considering privatising the project, which could be built without state guarantees or mandatory long-term power purchase contracts.
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