Electrabel, RWE bid for stake in Bulgaria nuke plant

Green Energy

Germany’s RWE AG and Belgian energy company Electrabel, owned by France’s Suez, filed binding bids on Monday for a 49% stake in Bulgaria’s planned Belene nuclear power plant.

“Both companies have filed their offers. We will now open them, study them and start negotiations,” said Hristina Stoyanova, spokeswoman for Bulgarian power utility NEK, which handles the project. She declined to say when a winner for the 2,000 megawatt plant would be chosen.

The Socialist-led government, whose mandate expires next year, has said it planned to wrap up the deal before the end of this year. NEK, which will keep 51% in the new plant on the Danube river, has contracted BNP Paribas to structure the financing for Belene. It has signed a €4 billion deal with Russia’s Atomstroyexport, along with France’s Areva and Germany’s Siemens, to build two 1,000 megawatt reactors, which are expected to come online in 2013 and 2014.

The European Union newcomer is building the new nuclear power capacity to restore its position of a leading power exporter in southeast Europe, after it had agreed to close two 440 megawatt reactors under its EU accession treaty. (Reuters)

ADVERTISEMENT

Climate change hurts economy, but creates new business oppor... Analysis

Climate change hurts economy, but creates new business oppor...

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Dentons rehires banking and finance partner Appointments

Dentons rehires banking and finance partner

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.