Macedonia Said to Eye Participation in Bulgaria's Nuclear Project

A file picture dated 03 September 2008 showing workers during the construction of the first 1,000 MW unit of the second nuclear plant of Belane, Bulgaria. Photo by EPA/BGNES

Macedonia is considering the acquisition of a minority stake in Bulgaria's second nuclear power plant of Belene, which has stalled over lack of funding, according to media reports.

Should Macedonia join officially the project, this may secure financing for the construction works and a market for the electricity to be produced by the plant, local Standard daily reported, citing unnamed members of the Bulgarian parliament.

Earlier this year Bulgaria's Prime Minister Boyko Borisov said Serbia has expressed interest in a 5% stake in the project, which in his words would turn it into "a Balkan, European project."

The government has also reportedly unsuccessfully courted Romania as it angles for a new chief investor in its second nuclear power plant Belene to replace the German energy company RWE, which withdrew last autumn.

Bulgaria suspended the construction of its second nuclear power plant until it finds a new investor and funds to complete the project at Belene, on the Danube, 180 kilometres northeast of the capital Sofia.

The plant was originally to be built by Russian company Atomstroyexport for EUR 4 B. The first reactor is expected to be built by mid-September for delivery to the site. Bulgaria has to pay an installment of EUR 280 M in addition to EUR 300 M already paid.

Last month Bulgaria's Prime Minister Boyko Borisov unexpectedly said that his country was “giving up” on Burgas-Alexandroupolis oil pipeline project decision, and that construction on the planned Belene nuclear power plant had been suspended.

In a dramatic twist that left all of Europe confused, Borisov retracted his statements shortly afterwards, saying that the Bulgarian government hasn’t made a final decision regarding the construction of the Burgas-Alexandroupolis oil pipeline and Belene nuclear power plant.