Bulgaria Opens Procedure to Select Strategic Investor for Belene N-plant

The National Electricity Company (NEK) has issued an invitation to strategic investors for the construction of the Belene N-plant, the Energy Ministry said on Monday. The procedure is in line with a decision of the National Assembly of June 7 2018 and of the Council of Ministers of June 29 2018.

The participants will have the opportunity to declare interest in acquiring a minority share in the future project company or to purchase electricity from the future power plant. The purpose of the invitation is to provide certain information to the parties willing to participate in the procedure.

The Bulgarian state will participate in the project company by transferring assets, including the licenced site, the acquired equipment, permits, licences and other documents related to the project. The state, through NEK EAD, could block decisions on certain matters within the general shareholders’ meeting. The plant is to be developed on market principles, without an obligation for the state to conclude long-term contracts for electricity and without state guarantees.