The Bulgarian parliament approved a government proposal to inject up to 1.5 billion levs (767 million euro) in Kozloduy nuclear power plant, in order to finance 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.
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.
