The Bulgarian government is seeking a potential investor to develop the Belene nuclear power plant and hopes to select one during the course of next year. So far, several companies have expressed initial interest on the project, of which Russia’s state-owned nuclear company Rosatom, China’s state-owned CNNC, France’s Framatome (former Areva NP, part of the EDF group) and state-run Korea Hydro & Nuclear Power Co (KHNP).
The construction of the Belene power plant started in 1987 but was stopped in 1991 under the pressure of ecological movements and neighbouring countries. The project was revived in 2002 and Atomstroyexport was selected to build two 1,000 MW VVER-1000 reactors. However, the €10bn project failed to attract investors and aroused concerns over Bulgaria's energy dependence on Russia. It was cancelled in 2012, prompting Atomstroyexport to file a lawsuit against the Bulgarian Government and to claim €1bn in damages. In December 2016, Bulgaria had to pay €620m to settle the deal. However, the Bulgarian government revived the project in May 2018 and announced that it will hold a blocking stake in the future project venture.