Bulgarian Energy Ministry to Review Westinghouse Contract

Energy | March 26, 2015, Thursday // 15:49|  views

Temenuzhka Petkova Photo: BGNES

The agreement between Bulgarian government and the US-based company Westinghouse regarding the construction of a seventh block to the Kozlodui nuclear power plant will be reviewed.

The statement was made by Energy Minister Temenuzhka Petkova Thursday.

''The agreement has not as yet enetered into power and has been signed in condition it will be confirmed by the following government,'' Petkova stated. '' The deadline mentioned in the contract is March 31. That date has not yet come so we are continuing the talks with our colleagues from Westinghouse and hope to have more clarity on the issue quite soon.''

She added that a working group has been created that involves experts from the Kozlodui nuclear power plant, the Bulgarian Energy Holding and Westinghouse. They will be working to achieve agreement on every single point of the contract, as explained by the Energy Minister.

Among the requirements that the government has posed are that there should be no state guarantee requirements, that the company's participation should be 49% and that it the investment should be binding for a long-term.

''Our request is for Westinghouse to have a real participation in the project through a real financial investment,'' Minister petkova stated.

She noted that further details on the contrat will be revealed after an agreement is reached and made a statement on the developments around units 5 and 6 of the power plant.

In 2014, Bulgaria signed a contract with a French-Russian holding for an extension of the term of exploitation of the Kozlodui nuclear power blocks five and six. After the modernization, they will continue producing electricity for more than ten years.

According to preliminary estimations, the total cost of the project will be between EUR 300 and 400 for both units.

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Tags: Bulgaria, energy, nuclear power plants, Kozlodui, contract, US, Westinghouse, extension, project, Energy minister, Temenuzhka Petkova, Petkova


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