Bulgaria continues search for Belene investors

29 August 2016

Bulgarian energy minister Temenuzhka Petkova has met with representatives of the China General Nuclear power Group (CGN) at the request of CGN, which is reportedly interested in investing in the Belene NPP project, which was to be carried out by Russian company Atomstroyexport, but was abandoned in 2012. In June this year, however, an arbitration court forced Bulgaria to pay €550 ($623m) for a nuclear reactor and other equipment already produced for the plant. Since then, the possible revival of the project has been on the agenda, with Borisov not ruling it out as an option if private investors could be found.

Petkova reflected this view, stating that Bulgaria is looking for a strategic investor, that will not receive government guarantees for long-term energy purchases on the Bulgarian market. CGN has expressed interest in investing in nuclear projects worldwide and currently holds a 6% share in the UK Hinkley Point C NPP project.

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