Belene not eligible for state guarantees

26 October 2005

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.

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