Ukraine PPA could fund 2 GW Bulgaria nuclear plant – lobby

Earlier this month, Bulgarian prime minister Rumen Radev said the country would consider cooperating with Ukraine on the project after last year revoking its decision to sell its Russian-made nuclear equipment to Kyiv.

The project was started in the 1980s but stalled before being suspended in 2013.

“If Ukraine does not have the opportunity to invest because of the war, the country could sign a long-term contract for the purchase of the electricity for a period of 20 years at a pre-agreed price, for example,” said Bogomil Manchev, chairman of the Bulgarian Atomic Forum (Bulatom).

According to Manchev, there is a realistic scenario where Bulgaria and Ukraine can jointly participate in the financing and subsequently be co-owners of the plant.

“If we assume the current market levels of about EUR 100/MWh, such a contract would be worth approximately EUR 16bn over 20 years and serve as a bank guarantee to the financial institutions that will finance the construction,” he said.

A German nuclear analyst agreed, saying European energy and financing firms were “keen to view Belene again”.

Western equipment?

The project would need a new construction permit if it was to be revived as the old one has expired, Manchev noted.

He said the remainder of the equipment needed could be supplied by Western manufacturers. “France can provide all the non-nuclear equipment. The big question is whether France will agree to participate and under what financial conditions.”

Bulgaria separately plans to build two new units with a combined capacity of 2.4 GW at its Kozloduy nuclear power plant with a final investment decision expected next year.

“We must decommission unit 5 at Kozloduy in 2047 and unit 6 in 2051. This means we need to build at least two new nuclear units in time to replace them,” said Manchev.

According to him, Bulgaria could complete both the Kolzoduy and Belene projects within the next 25 years.

By: Luka Dimitrov
Source: Montel