A new private investor for Belene NPP

“We, a group of private investors, are interested in implementing the Belene NPP project. We propose to undertake the project and to bring it to a successful end after buying the State’s share in it and reimbursing the State with all the expenses incurred so far,” 3e-news reported. This is part of the address made by Angel Despotov on Friday. He headed the Agency for Small- and Medium-sized Enterprises during the government of Simeon Saxe-Coburg-Gotha. The investors promise to submit a formal proposal to the Council of Ministers and to the National Assembly.

“We are interested in building a new nuclear power plant at Belene as a private project. As arguments in our favour, expected to make easier a decision to accept our proposal, we will submit expert analyses by independent experts who are adamant that it will be unprofitable for the State to invest in the project under the current assumptions and conditions and the explicit statement of Bulgarian Prime Minister Boyko Borissov that the Belene NPP can only be built if there are private investors. Our own assumptions and estimates strongly suggest a future need of reliable sources of electricity and the profitability of the project,” Angel Despotov wrote from Munich.

The team wants guarantees from the State that it will ensure a free energy market in Bulgaria in compliance with the EU directives and that no artificial administrative obstacles will be set to the implementation of the project.

“We do not demand from the State a preliminary contract for the purchase of the energy to be generated by the plant and we do not expect the Bulgarian Government to give guarantees for the success of the project. The market liberalisation via its opening to independent suppliers and traders of energy is a sufficient condition for us which, in turn, will lead to a number of unquestionable benefits for businesses and consumers,” read the address.

The group of investors represented by Despotov has estimated the project at some €5.1 bn. The price is for building the power plant itself, excluding the adjoining energy infrastructure.

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