Rosatom pressing Bulgaria to sign new Belene nuclear deal

Russia's state nuclear energy company Rosatom is urging Bulgaria to sign another agreement related to the construction of the Belene nuclear power station.
 
Bulgaria will pay no funds from the state budget to build Belene, but at the same time it will keep its 51 per cent share in the project, Rosatom said.
 
"The project company could attract independently sufficient credit resources with a maturity date starting at the time the first reactor starts selling its electricity abroad and with a repayment period of 20 years," according to the statement.
 
That way, without paying anything, Bulgaria will have a nuclear power plant that will supply the country with electricity at a low price in the first 20 years of operation and bring steady profits to the budget as a beneficiary of power grid operator NEK in the next 40 years, Rosatom said.
 
Bulgaria picked Rosatom's unit Atomstroyexport to build the Belene nuke plant in 2006. The parties have so far signed 11 annexes to the main contract, with the 12th agreement, settling the implementation of activities in the 2011-2014 period, expected to be signed in March.
 
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