Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Bulgaria buys Christmas present worth EUR 600 million

Photo: library

This week Bulgaria’s National Electric Company paid EUR 600 million to Russian Atomstroyexport, which manufactured two nuclear reactors for the second nuclear power plant in Belene, a project that was suspended by the country’s National Assembly few years ago. The two nuclear reactors will be soon delivered to Bulgaria and the country’s authorities are planning to conserve them at the construction site of the imaginary NPP in Belene. The question is what Bulgaria will do from now on with the expensive nuclear reactors? The authorities have been discussing for a long time different options, but have not come up with any concrete plan. One thing is clear now-Bulgaria will not spend public financial resource on the construction of the new nuclear power plant in Belene. 

Bulgaria’s authorities have been discussing two main options, in order to get back at least part of the money spent on those reactors. The country can sell the nuclear reactors to a potential buyer at unknown price. However, one thing is for sure in this case-no company would agree to pay the amount of money Bulgaria already paid Russia for the nuclear equipment. Thus, Bulgaria would only minimize its losses. Unfortunately, Bulgaria already failed to sell the two reactors to Iran during Premier Borissov’s visit to that country.

Bulgaria has another option- to find a potential investor which would build the nuclear power plant with own financial resource, without the assistance of the state on a purely market principle. According to some speculations, 3 or 4 large energy companies from the USA, France and China showed interest in Belene NPP. According to Bulgaria’s outgoing Minister of Energy Temenuzhka Petkova, the outcome of that issue will be in 6 to 8 months. Moreover, Bulgaria’s nuclear power plant in Belene may become the first fully privately-owned one in Europe.

Meanwhile, the problems of the National Electric Company will not end any time soon, because it has to start accumulating financial resource, in order to pay off the loan it took from the state to pay the Russian energy company. Unfortunately, NEC will not be able to make enough investments in new equipment and maintenance of the state-owned electricity companies, because the indebtedness accumulated over the years placed a huge financial burden on its shoulders.

English version: Kostadin Atanasov


Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

The average salary in Sofia is EUR 1732, according to NSI

The highest average salary in Bulgaria is in Sofia - 1732 euro, and the lowest in Smolyan - 826 euro. These are the data from the National Statistical Institute (NSI) for December 2024. Because of the salaries in the capital, the average salary in..

published on 2/14/25 2:48 PM

NSI: Annual inflation in Bulgaria at 3.7 per cent

Monthly inflation in the country was 2% in January and annual inflation was 3.7%. This is according to preliminary data from the National Statistical Institute (NSI). The biggest increases were in the prices of heating and utilities. According to the..

published on 2/14/25 2:06 PM
The signing of the contract between the Sliven Diocese and Electra Trans Global for the land on which the large-scale complex will be built

Bulgarian aircraft repair company invests EUR 60 million in Burgas

One of the largest Bulgarian companies for repairing civil aviation aircraft has chosen Burgas for a major investment in aircraft repair and maintenance, the Municipality of Burgas announced. The company will build one of the largest hangar complexes..

published on 2/12/25 9:08 AM