U.S.-based Global Power Consortium Eyes Belene NPP Project

U.S.-based Global Power Consortium Eyes Belene NPP Project

U.S.-based Global Power Consortium has announced its intention to invest in the construction of the Belene nuclear power plant.

The consortium is in negotiations with Bulgaria's state-owned power grid operator NEK on the Belene project, the state-run Bulgarian National Television reported on Wednesday, quoting an official of the consortium as telling the parliamentary economy committee.

The Belene project had been mothballed for nearly two decades before Bulgaria decided to resurrect it and hired Russia's Atomstroyexport in 2008 to build the 2,000 megawatt (MW) facility. After the project made scant headway, the government in Sofia decided in March to abandon it altogether, choosing instead to add a new 1,000 MW reactor to its existing nuclear power station in Kozloduy. Earlier this month Atomstroyexport said it will seek no less than 1.0 billion euro ($1.29 billion) as compensation for Bulgaria's decision to drop the project.

The U.S. consortium is in talks with Atomstroyexport to contract it as supplier of the nuclear components for the plant and the Russian company has indicated its interest, Dnevnik quoted the official as saying.

He added the project is to be financed entirely by Global Power Consortium which will seek no financial guarantees from the Bulgarian government.



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