Parliament: BEH will increase the capital of the Kozloduy NPP "New Capacities" to BGN 1.5 billion for the construction of two units with Westinghouse technology

The Bulgarian Energy Holding (BEH) should increase the capital of the project company "New Capacities" to BGN 1 billion 500 million, so as to ensure the possibility of building two new energy units at the site of the Kozloduy NPP, the deputies of National Assembly. The vote was held in an unusual situation, in which the parliamentary tribune was occupied by the opposition, and the presentation of the draft law and the report on it was presented from the seat on behalf of the chairman of the energy commission, Delyan Dobrev.

In the report of the Energy Commission to the National Assembly on the draft decision to take action on the construction of the 7th and 8th blocks of the Kozloduy NPP site with AP 1000 technology. In the reasons, the deputies refer to the current situation in the world and the need from providing long-term base power.

"Nuclear energy is a safe, reliable, sustainable and low-emission alternative. "Westinghouse's technology is one of the few that allows maneuverability of nuclear units, compatible with renewable energy sources, and therefore harmony in the EU's fit for 55 policies," the report states, recalling the decisions of COP28 to triple nuclear capacity by 2050.

"For the realization of new nuclear power, it is necessary to carry out specific actions on the part of the executive power. With this decision, the Council of Ministers is tasked with taking specific steps to build the 7th and 8th units of the Kozloduy NPP with AR 1000 technology.

A specific schedule for the implementation of the project is attached to the decision. The first steps are related to an increase in the capital of Kozloduy NPP-New Powers EAD by up to BGN 1,500,000 thousand through an increase in the capital of Kozloduy NPP EAD," the report states. It is recalled that the award of the research decision and the expectation that this will be completed in April 2024.

"BEH EAD has financial resources with which to increase the capital of the project company by BGN 1,500,000 thousand. The purpose of this action is to secure the financing necessary for the launch of the next stage of the investment intention for the construction of a new nuclear power plant, in which a contract will be awarded for the preparation of the actual engineering, incl. and technical project. On the basis of the prepared design and accounting documentation, which will be part of the technical project, it will be possible for the contracting authority to make a financial investment decision. The technical design will provide more accurate information on the required capital expenditure. At this stage, it is planned to start the activities on structuring the financing for the project and the beginning of the negotiations with banking institutions with a view to attracting the necessary funds", says the report of the energy commission.