Development of Bulgaria’s Belene nuclear plant will not be funded through state guarantees in 2006, reports Capital Weekly, as the financing is at a very early stage.

The Belene project is expected to cost €1.5-4.0 billion with state participation likely to be over 51%. Consequently, state guarantees on loans for the project will be worth €1.0-2.0 billion. State guarantees should be distributed to guarantee loans worth €200-400 million for each of the next five years.

The Belene project is expected to comprise two VVER-1000 reactors.