Kommersant daily: Rosatom threatened with losing its project in Bulgaria

The Bulgarian authorities have again changed their position on the Belene NPP which is being constructed by the Russian State Atomic Energy Corporation Rosatom, posted the Russian Kommersant daily yesterday. The opponent of the project, Minister of Economy, Traicho Traikov, backed by Parliament, remains in office, while the analysis on the effectiveness of the project will be assigned to the British bank HSBC. The political decision on the Belene NPP project will be taken by June 1 on the basis of HSBC's conclusions.

The scandal in the Bulgarian GERB (Citizens for European Development of Bulgaria) Government over the new agreement reached with Rosatom on the Belene NPP construction project was decided in favour of the Minister of Economy and Energy, Traicho Traikov. He will remain the project's coordinator, decided Bulgarian Prime Minister Boyko Borissov after a meeting with Traikov and Deputy Prime Minister Simeon Djankov. According to Borissov, the construction of the Belene NPP will continue only if its cost-effectiveness is proven and if there is a viable option for the export of electricity to neighbouring countries, reported also the newspaper. Traicho Traikov announced that a contract should be signed with HSBC as consultant to Bulgaria on the project's implementation.

According to the analysis of the Bulgarian Institute for Market Economics, NEK (the National Electric Company) "intentionally raises the estimates for energy consumption''. If HSBC's analysis on the forecasts for energy consumption in the Balkans over the next 15 years fails to show the need for the installation of the power capacities of the Belene NPP, the construction project will be frozen. HSBC will present its conclusion by June 1, posted the edition.

"We will take our political decision on the basis of the conclusions of the consultant's analysis," stated Traikov. Last week, NEK's Head, Krassimir Parvanov and Vice President of Atomstroyexport JSC Gennady Tepkyan signed the 12th annex to the contract from 2008 for the construction of the Belene NPP, reminded Kommersant daily. The annex obliges the parties to draw up an EPC (Engineering, Procurement and Construction) contract by June 1, which must be signed by July 1. However, the annex was inked only after the verbal approval of Deputy PM Simeon Djankov. Afterwards, Traikov demanded the resignation of Parvanov.

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