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Bulgaria’s and Westinghouse cooperation in NPP construction suspended
Highlights
At the round-table discussion “Regional challenges in the context of geo-strategic processes” held several days ago by Chamber of Commerce of the USA in Bulgaria, Bulgarian Prime Minister Boyko Borisov expressed his position on the nuclear subject. He assumed that plan of Westinghouse on the construction of power unit 7 at the NPP Kozloduy didn’t contain comprehensive information on financial issues.
At the round-table discussion “Regional challenges in the context of geo-strategic processes” held several days ago by Chamber of Commerce of the USA in Bulgaria, Bulgarian Prime Minister Boyko Borisov expressed his position on the nuclear subject. He assumed that plan of Westinghouse on the construction of power unit 7 at the NPP Kozloduy didn’t contain comprehensive information on financial issues.
“A Memorandum on the project was given to me without detailed plan of investments, construction costs and generated power prices”, said Mr. Borisov. He mentioned that apart from minimum losses the plan had to contain clear figures on finance, investments and profit for 10-year period, as profit is what really matters. But the plan proposed by Westinghouse didn’t contain any details on this subject, according to Mr. Borisov.
The agreement between Bulgaria and Westinghouse on the 7th power unit construction at Kozloduy NPP was signed on August 1, 2014. It was expected to start construction in 2016 and to commission the unit in 2021.
After the Bulgarian government changed in November 2014, the agreement was revised. The preliminary estimates revealed that construction costs would reach $7.7 bn. Bulgaria invited Westinghouse to become an investor with its share of 49%, but the American company refused as it’s not common practice of the company to become investor of the project.
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