Yordan Kostadinov, former CEO of NPP Kozloduy: The green energy generation is very expensive for an impoverished country like Bulgaria

- Mr. Kostadinov, how will you comment on the allegations that there is already an US investor who has expressed interest in the construction project of NPP Belene?
- US companies have always shown interest in participating in the NPP Belene construction project. This is one of the few undertakings at a global scale in the field of nuclear energy generation, which have a very good project readiness of some 94-95%. Besides, NPP Belene has a licensed site for the construction of the plant. In the current financial crisis, each contractor wants to generate profits, thus seeking to invest his/her funds in an efficient project. And this actually will be one exclusive and secure investment.
And if there are clearly set standards concerning the Bulgarian energy sector, then a clear and secure investment will be made....

- And why has this investor been mentioned just now - only a month before the expiration date of the agreement concluded with the Russian party?
- As you remember, the GERB (Citizens for European Development of Bulgaria) government came to power with the promise to announce its final decision on the fate of the NPP Belene project within six months. Two years and six months have gone by and the problems concerning the NPP Belene project remain. This is one of the drawbacks which may deter all investors because there is no consistency and clarity in the objectives pursued by the government.

- Do you think that the official visit of US Secretary of State Hillary Clinton and the visit of the Bulgarian delegation to Moscow have influenced the development of the NPP Belene project?
- At this point, I cannot answer this question because I do not have have enough information. In my opinion, if, within half a year, GERB's government fails to issue its final decision on the fate of this project, it is possible that the Russian party might withdraw. They are tired of waiting and might switch to the implementation of other projects. As an expert, I know that there are many projects for the construction of nuclear power plants. But the capacities of the plants for the construction of reactors, regardless of whether they are Russian, French, Japanese or American, are not particularly high. Nevertheless, it is impossible to construct a NPP in one day. And certain people already benefit from the already contracted clauses concerning the investment in the equipment of NPP Belene.

- So far as I understand, this very pressing issue which must be decided....
- You see, green energy perspectives differ substantially from our initial objectives. It turned out that renewable energy is not that cheap. This kind of energy production is not for poor countries like Bulgaria and for impoverished people. If we want to have an efficient economy, we should not have such a big percentage of renewable energy sources. If we want to depend on this kind of green energy generation, then we should not have big hopes for economic growth because electricity generation predetermines the successful economic development of every country.
Therefore, Bulgaria needs secure sources for the generation of electricity. When we talk about investments in the utilisation of renewable energy sources, we must also consider upgrading our electricity network as well.

- There are allegations that the price of green energy will be comparable to that of conventional energy sources as a result of the launching of the tenders for the sale of renewable energy quotas. Do you think that this is possible?
- I do not believe that this will happen. However, we know how the Americans, the Chinese and the Russians do not comply with these rules. Besides, the Canadians already withdrew from the Kyoto Protocol. Therefore, I am not sure whether this point will be repealed. We should not think that the EU is the institution which dictates decisions at a global scale.

- The majority of Bulgarian nuclear experts have already left for Western Europe and the US?
- The world of science and technology is already big enough and bids them welcome. Western Europe is not the place where the nuclear energy sector is developing most actively.

- This year, the mechanism for trade in harmful emissions quotas is expected to be stimulated. How do you expect the latter to affect the price of electricity in our country?
This tender should be launched in 2013. But I so far as I know, Bulgaria lacks a legal basis for this. The EU has special laws for nuclear power capacities of over 150 MW. Under all circumstances, Bulgaria is an EU member-state and it has already undertaken definite commitments. Now that we must start to pay for the quotas, we are also expected to be able to purchase and sell them. The next financial year is already on its way and therefore I am not aware as to how Bulgaria can be involved in this trade without having the proper legal regulations.

As a result of the purchase of quotas, the electricity price may rise by some 20% in our country. I also think that the latter was stated by Energy Minister, Traicho Traikov. The State Energy and Water Regulatory Commission (SEWRC) can tackle this issue and I hope that the institution exercises its powers in order to avoid a huge price increase.

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