Financing New Nuclear Power Plant in Bulgaria
Bulgaria is exploring various ways to finance the construction of two new units at the Kozloduy NPP, without official price or timeline announcements. Negotiations with international banks are underway, but uncertainties remain regarding funding sources and repayment plans. The forecasted electricity prices from the new NPP may not be competitive compared to renewable energy sources, posing challenges for Bulgaria's energy sector.
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Environmental association Za Zemiata Bulgaria- Many ways for taxpayers to finance new NPP Joint Project Webinar on September 13, 2024 Todor Todorov Todor Todorov
Bulgaria Bulgaria- - Many ways for taxpayers to Many ways for taxpayers to finance new NPP finance new NPP There is a decision of the parliament and the government for the construction of two units at the Kozloduy NPP with Westinghouse's AP 1000 reactors. The construction was entrusted to Hyundai. These decisions were taken without economic analysis and public discussion. So far, there is no officially announced price of the project for two AP 1000 reactors, nor an officially announced deadline.
Bulgaria Bulgaria- - Many ways for taxpayers to Many ways for taxpayers to finance new NPP finance new NPP From interviews with participants in the negotiations, we understand that the price could be between $14-16 billion for the construction of two reactors. No one is talking about the cost of building a spent nuclear fuel repository. That is, there is no talk of $2-3 billion in additional costs. We know that the practice in Europe and the USA is that the construction of new nuclear power plants has a great delay and increase in cost. Thus, the price at the end of construction is much higher.
Bulgaria Bulgaria- - Many ways for taxpayers to Many ways for taxpayers to finance new NPP finance new NPP After the meetings of the Bulgarian energy minister in the USA and South Korea in August 2024, he said that negotiations are underway to find finance for this project. According to the Bulgarian minister, it was discussed with the American Exim Bank and the Korean Exim Bank (Export-Import Bank of Korea) that they participate with $8 billion each. But for now there is no official information on this topic. There is no signed contract or agreement with the two banks.
Bulgaria Bulgaria- - Many ways for taxpayers to Many ways for taxpayers to finance new NPP finance new NPP There is no official information whether the Bulgarian government or the National Electricity Company will take such a huge loan for the scale of Bulgaria, in what period and in what way they will return this loan. Forecasts for the price of electricity according to various sources from a new NPP by 2035 vary between 130 - 210 USD/MWh This price does not withstand the competition of energy from RES
Bulgaria Bulgaria- - Many ways for taxpayers to Many ways for taxpayers to finance new NPP finance new NPP Thanks for your attention! For contacts: Todor Todorov-Energy Coordinator todorside@gmail.com Tel: +359887122801
