December 18 (SeeNews) - The Bulgarian parliament on Monday approved a government proposal to inject up to 1.5 billion levs ($837.6 million/766.9 million euro) in state-owned Kozloduy nuclear power plant (NPP), in order to fund the planned construction of two new reactors using Westinghouse Electric's AP1000 technology,
The funds will be used to increase the capital of project company Kozloduy NPP-Newbuild by January 20, according to a decision approved by members of parliament from the three political formations supporting the government - GERB, WCC-DB and MRF, as seen in a live parliamentary broadcast.
As part of the decision, lawmakers also adopted a provisional timeline for the construction process, with a view to commissioning the first reactor by end-2034.
The energy minister has been authorised to start the necessary procedure for choosing a contractor for the technical design, construction and commissioning of the new reactors, with formal negotiations with shortlisted construction contractors due to begin by February 2, 2024. The minister has also been entrusted to negotiate a loan with financial institutions as well as to inject 500 million levs into Kozloduy NPP-Newbuild coming from the Bulgarian Energy Holding.
By February 2, 2024, the energy ministry must ensure the start of necessary procedures for the construction of a second AP1000 reactor at Kozloduy.
Kozloduy NPP-Newbuild is a special project company owned by the power plant operator, which in June signed signed a front-end engineering design contract for a new reactor build with U.S.-based Westinghouse Electric Company.
Kozloduy, Bulgaria's sole nuclear power plant, currently operates two Russian-designed VVER-1000 reactors of 1000 MW each. Their operational licences will expire in 2027 and 2029, respectively.
(1 euro = 1.95583 levs)
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