Minister Stankov: With the construction of new nuclear capacities, Bulgaria will guarantee its energy independence

For the Bulgarian government, the implementation of the project for units 7 and 8 of the Kozloduy NPP is of strategic importance for the country and the region. With the construction of new nuclear capacities, Bulgaria will guarantee its energy independence. This was said by the Minister of Energy Zhecho Stankov in a conversation with Daniel Sumner, Deputy CEO and future CEO from March 2025 of Westinghouse Electric Company. The meeting was held within the framework of Minister Stankov's working visit to the United States of America and was also attended by the Executive Director of Kozloduy-New Power Plant Petyo Ivanov and the Member of Parliament and Chairman of the Budget and Finance Committee Delyan Dobrev from the Bulgarian side and from the company Daniel Lipman - President of the Westinghouse Energy Systems Business Unit, Jacques Bisneinou - Senior Vice President and Chief Commercial Officer, and Margaret Cosentino - Senior Vice President, responsible for relations with government organizations.

During the meeting, the implementation of the project was discussed and specific paces and deadlines for work were set so that its development would proceed according to plan. Minister Stankov emphasized the need to accelerate the implementation process, without hindering good execution. He once again reminded that the Bulgarian side expects quality, speed and a competitive price at the same time.

The energy minister highlighted our country's experience in nuclear energy and insisted on the effective participation of Bulgarian companies in the construction of the seventh and eighth units at the Kozloduy NPP site.

The need for the project to be consistent with the Bulgarian legal framework and standards was emphasized. The possibilities for structuring the future contract for the implementation of engineering, procurement and construction (EPC) of the project were also considered.

"A final investment decision is expected by the end of the year, and by then the financing will be secured, only then will the EPC contract be signed," he emphasized. This was the main topic of the meeting between Minister Zhecho Stankov and the management of the Export-Import Bank of the United States (Exim Bank). The meeting discussed the financial structure and the provision of funds for the construction of Units 7 and 8 of the Kozloduy NPP, as a guarantee for the implementation of the project.

The possibilities for providing financing for other key energy projects were also discussed.