The development of Units 7 and 8 at Bulgaria’s Kozloduy nuclear power plant is moving steadily forward, with the final investment decision expected in 2026, according to Petyo Ivanov, CEO of the project company NPP Kozloduy New Build. This decision will mark a critical milestone for the project, determining whether the expansion proceeds into the construction phase.
In November 2024, NPP Kozloduy New Build signed an engineering agreement with Westinghouse and Hyundai Engineering & Construction for the deployment of new nuclear units, based on AP1000 reactor technology. Ivanov stressed the importance of clearly defining the responsibilities of each party involved, underlining that the investment decision must be based on a thorough analysis of both capital and long-term operating costs. Securing adequate financing and carefully selecting suppliers will be essential to the project’s success.
To obtain the necessary design and construction permits, comprehensive technical and regulatory documentation must be prepared and submitted to the relevant authorities. Ivanov highlighted the need to identify and address technical and regulatory gaps that could affect the project’s progress.
A key focus ahead of the investment decision is establishing a robust contractual framework that sets out mutual obligations between the project owner and contractors. Ivanov also emphasized the importance of a well-defined localization strategy, which will ensure strong participation from Bulgarian firms, especially in areas like automation and control systems. Transparency and traceability will be prioritized, with detailed documentation and verifiable invoices required throughout the project.
The appointment of the lead engineering contractor is currently underway and expected to be completed by the end of May. A financial advisor is also being selected to help structure the project’s financing model, which aims to secure 20–30% in equity and the remaining 70–80% through debt.
Meanwhile, work continues to meet licensing requirements. This includes securing construction approval from the Ministry of Regional Development and initiating the design permit application. A consultant has already been engaged to conduct environmental and water impact assessments, with a decision from the Environment and Water Ministry expected within 12 months.
