Minister Radev: Bulgaria strives to achieve a price for the Seventh and Eighth Blocks of the Kozloduy NPP below 14 billion dollars

Bulgaria will strive to keep the cost of the construction of the Seventh and Eighth Block below 14 billion dollars. This became clear from the words of Energy Minister Rumen Radev. He signed an intergovernmental Cooperation Agreement on a project to build nuclear power at the Kozloduy NPP site and a nuclear program for civilian purposes in Bulgaria. The agreement was also signed by Andrew Light, Assistant Secretary of State for International Affairs at the US Department of Energy. With this agreement, Bulgaria becomes significant for the entire region, said the American expert, who is visiting our country for the second time. He wished that even his children would have the opportunity to see a new nuclear unit built in Bulgaria. Our country's aspiration is to build Unit Seven of the Kozloduy NPP by 2034 and it will use AP 1000 technology. The state is expected to be the owner of the new facility. The financing of up to 30% of the project will be done with state assets and funds, and for the remaining 70% external financing will be sought, including with guarantees, it became clear from the words of Minister Radev.

"We signed an important international agreement, which strengthens the commitment of Bulgaria and the USA for a strategic nuclear partnership," Minister Radev said immediately after signing the document. According to him, the progress on the projects for the construction of the two new reactors at the site of the Kozloduy NPP and the one for the nuclear fuel produced by Westinghouse, on which there is already a signed agreement, are reported every week to the Ministry of Energy. The aspiration is for the financial framework for the construction of the 7th and 8th units at the Kozloduy NPP to be up to 14 billion, but without Minister Radev specifying the currency, saying only that the euro and the US dollar are close to parity at the moment.

The procedure for replacing the fuel of the current unit 5 of the Kozloduy NPP is also underway, and the Westinghouse company is expected to deliver the fuel in the spring. In response to a question from 3eNews, Minister Radev clarified that there is currently no delay in the project to replace the fresh nuclear fuel and the activities are being carried out on time.

An important highlight of the new agreement is the provision of sufficient personnel for the nuclear sector in our country, because even now the shortage of specialists to maintain the current units of the Kozloduy NPP is felt.

Another important direction for development is the creation of small modular reactors, Light explained in his speech. According to him, the agreement will give Bulgaria advantages to maintain its status as an energy leader in the region. We recall that projects for small modular reactors are also currently being prepared in Romania, again using Westinghouse technology

We look forward to cooperating with the Republic of Bulgaria on the Kozloduy NPP, as well as cooperation in the nuclear field. Through this mutual agreement, we will work together on other issues as well, and this is incredibly encouraging, because as we look at Bulgaria, it will become the leader in the region in terms of energy security and the decarbonization process," explained the Assistant State secretary.

The two met in Washington last week during the official visit of members of Prime Minister Denkov's cabinet to the US capital.

This, in his words, is not just a strategic cooperation, because when two countries decide to work on an infrastructure project, it becomes a very long-term partnership, because the construction of a reactor takes time, as does the commissioning of it. extend the life cycle and ensure the supply of secure, clean energy power capable of balancing other green energy sources, not forgetting the issue of waste.

"This is not a collaboration on one project, but a collaboration that will last generations," Assistant Secretary Light announced, hoping his children will come and see the reactor built, but also witness the partnership between the two countries. "The minister has already said that we are committed not only to building something, but also to train, develop employees, research and development activities not only for Bulgaria, but for Bulgaria to lead the region. And this is a kind of foresight, determination, especially in a world like today, where energy has been used as a weapon by individual countries. This is a testament to our strong bond," the US government official said.

He believes that the agreement reached at COP28 in Dubai to triple the amount of nuclear energy will not only be met, but may be exceeded.

"I believe that nuclear energy can and should play an important role in diversifying your energy sources and expanding your role as a regional energy distribution hub," Assistant Secretary Light concluded, adding, "A unique opportunity is opening up. This is a collaboration not only between our two countries, but also between our companies".