Bulgaria PM: Belene N-Plant Should Be Built Privately with State Help

Bulgaria could find private investors to complete the ditched Belene nuclear power plant (NPP) project, with assistance from the state, Prime Minister Boyko Borisov suggested on Friday.

The project, which was to be carried out by Russian company Atomstroyexport, was abandoned in 2012. In June, however, an arbitration forced Bulgaria to pay EUR 550 for a nuclear reactor and other equipment already produced for the plant.

Since then, the prospect to revive Belene has been on the agenda, with Borisov not ruling it out as an option and Bulgaria willing to set up a working group with Russia to discuss a possible renewal.

Borisov on Friday said a private mode of construction was much more suitable for Belene, with Bulgaria having incurred billions in losses by investing into the abandoned project.

"When we pay the [EUR] 557 M, we will have two reactors... The state doesn't have now [the capacity] to put aside 20% of its GDP for the construction. Let's make it a private project, through the privatization agency... the state's share cannot be too big," he said.

Bulgaria had earlier explored the option to sell the reactors and other equipment to Iran. However, after lack of response from the Islamic Republic, Borisov noted the country canot afford to take the reactor and "put it into a museum."