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Bulgaria’s struggle to find the money for building Belene nuclear power project

Reuters 12th May 2018 , Bulgaria’s government will ask parliament to give it the authority to
negotiate with investors to build the Belene nuclear power project on the
Danube River, the prime minister said on Saturday.

The Black Sea state initially canceled the project, estimated to cost about 10 billion euros,
in 2012 after failing to find foreign investors and bowing to U.S. and
European Union pressure to limit the country’s energy dependence on
Russia, which would have supplied some equipment.

The current government of Prime Minister Boyko Borissov, however, is renewing the search for private
investors to build the plant after an arbitration court ruled in 2016 that
Bulgaria must pay more than 600 million euros ($717 million) in
compensation to Russian state nuclear company Rosatom due to the
cancellation.
https://www.reuters.com/article/us-bulgaria-nuclear-belene/bulgarian-government-to-seek-mandate-for-talks-with-investors-over-nuclear-plant-idUSKCN1ID0TE

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May 16, 2018 - Posted by | Bulgaria, business and costs, politics

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