Bulgaria to Launch Privatization Procedure for Belene Nuclear Project Next Year

Bulgaria plans to launch a tender early next year to sell cancelled Belene nuclear power project.

"At the start of next year, the procedure for the privatisation of the company for the project of Belene nuclear power project should start," Energy Minister Temenuzhka Petkova said at a news conference on 15^th of August, presenting the government priorities in the energy sector for 2017-2020.

Petkova also said that there were already results from the inspection of Tsankov Kamuk hydro power plant, but added she could not comment why the institutions did not sanction the offender NEK (National electricity company).

Minister Petkova said that the main priority is ensuring the country's energy security - by supplying natural gas from various sources and preserving the big power plants – the Nuclear Power Plant and the thermal Power Plants.

Petkova was firm that Bulgaria does not have enough money to build Belene NPP, therefore the project will be sold.

She said that Bulgaria could not afford more mistakes with the project, but in any case it should keep a small stake in it and that investors should be willing to build it without state guarantees or long-term power purchase agreements.

Petkova also commented on the repair of Tsankov Kamuk hydropower project. She explained that while she was head of the State Financial Inspection Agency, an inspection had showed that the project was not entirely legal. Its cost had risen almost three fold to more than 700 million BGN, more than 220 million had been illegally spent by the National Electricity Company.