Tuesday, July 23, 2024
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Bulgarian minister: Kozloduy Nuclear Power Plant will provide secure and clean energy

“The construction of units 7 and 8 at the Kozloduy Nuclear Power Plant is set to provide secure and clean energy in Bulgaria, significantly bolstering the country’s economic and national security,” emphasised Bulgarian Energy Minister Vladimir Malinov during a presentation by Hyundai Engineering and Construction.

“The decisions adopted by the 49th National Assembly to select the AP-1000 technology of US company Westinghouse, along with Hyundai Engineering and Construction, a world leader in building nuclear units, have made the process irreversible. We rely on their cooperation in the successful implementation of the project,” Minister Malinov stated.

The Bulgarian minister emphasised the urgency of the construction of new nuclear capacity at the Kozloduy Nuclear Power Plant site advocating for swift action in a competitive environment under optimal economic conditions. He outlined three critical processes to be executed in the second half of next year: securing funding, preparing the baseline project for the new units, and making the final investment decision.

He also recalled his recent meetings in Washington, where the U.S. Exim Bank committed to financing Westinghouse’s participation in the project, including securing a portion of Bulgarian business participation. Discussions are also pending with the Korean Bank for Export Financing and the Export-Import Bank of Korea.

The Bulgarian government has stipulated a minimum of 30 per cent local company participation in the design, supply and construction of the new units at Kozloduy NPP. At the peak of construction the number of people involved is expected to reach 10,000 according to the minister who added that the preparation of the necessary supply infrastructure and ensuring safe working conditions has to start immediately. He also referenced the inter-ministerial working group established by the Council of Ministers, which is dedicated to speeding up administrative processes and ensuring the project’s smooth progression.

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