Bulgaria Seeks Financial Consultant for New Unit at Kozloduy NPP

Bulgaria Seeks Financial Consultant for New Unit at Kozloduy NPP

Bulgaria has invited interested parties to state their intent to participate in a procedure for the selection of a financial consultant for the construction of a new 1,000 megawatt (MW) unit at its sole nuclear power plant (NPP) in Kozloduy, a tender notice indicated.

The selected company will have to structure the project for the new NPP unit in compliance with national and international standards for project development in the nuclear field, to develop a model and a financial concept for the project, as well as negotiate with creditors, the notice published on the website of Kozloduy NPP-New Build, a wholly-owned subsidiary of the NPP operator that is in charge of the project, indicated.

The three-stage selection procedure would involve conducting negotiations for determining the provisions of the contract with one or more candidates, shortlisted after the pre-selection phase. The submission deadline for statements of intent is May 16.

At present, negotiations are conducted with the developer in specifying the terms and signing a shareholders agreement for the project, using an AP 1000, Generation III+ reactor manufactured by U.S.-based Westinghouse, the notice also indicated.

The decision to add a new unit at the Kozloduy site was taken by the Bulgarian government in 2012.

Last week, the CEO of the NPP operator, Ivan Genov, said the company is still negotiating with Westinghouse on the construction of the new unit. The two companies are expected to sign a contract on the first stage of the project in September after which actual works on preparing the site can begin, Genov added at the time.

In December, experts from Westinghouse Electric Company, Japanese multinational engineering company Toshiba Corporation and the state-run Bulgarian Energy Holding, which is the NPP's owner, signed an agreement to open talks on the construction of the new NPP unit.

The Kozloduy NPP remained with two operational reactors of 1,000 MW each after the country closed down four units of 440 MW each to address nuclear safety concerns of the European Union prior to its accession to the bloc. Bulgaria joined the EU in 2007.

Westinghouse Electric Company is a group company of the Toshiba Corporation.

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