Kozloduy NPP to Pay No More Dividend to BEH - EconMin

Kozloduy NPP to Pay No More Dividend to BEH - EconMin

The Kozloduy NPP will no longer be required to pay dividend to its parent company, the Bulgarian Energy Holding (BEH), as the funds will be allocated to covering costs for the extension of the life of its units 5 and 6 instead, economy minister Dragomir Stoynev said, as quoted by the Sofia News Agency (Novinite.com).
Last year the NPP paid BEH 280 million levs in total dividend.
Kozloduy NPP has repeatedly requested to be relieved of this obligation to pay BEH dividend in order to be able to implement a project for a 10-year extension of the lives of the two units 5 and 6 without taking a loan, the news agency said.
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.
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.

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