Report Describes Belene Nuclear Plant Project as Vital

Belene nuclear plant project can be financially successful in two thirds of the 90 scenarios developed by the Bulgarian Academy of Sciences (BAS), a report by the academy presented on 16th of November, reads.

The Ministry of Energy will offer the analysis for discussion and hope within a year to reach a consensus decision on the project in order to prevent the loss of the BGN 3 billion invested so far.

The BAS report says that the project can be vital given an investment expenditure of EUR 10.5 billion, 30% equity capital, 70% attracted capital, with a loan that has an interest rate of 4.5%.

BAS experts were convinced that if the state participated, the chances of the project would increase. They have also calculated that the Belene electricity price will be between 57 and 84 euros per megawatt hours, which is twice as much as the price of the Kozloduy nuclear power plant.

Therefore, after listening to the conclusions of the analysis, Energy Minister Petkova explained that the decision on the future of Belene should be taken quickly and with full consensus, but it should not be rushed.