The Bulgarian cabinet has decided to revive the construction of the Belene nuclear power station, with China’s National Nuclear Corporation announcing its interest in investing in the controversial plant, on which construction first began in 1987, only to be discontinued three years later. Bulgaria has so far invested 3 billion leva in the project, but does not plan to spend a penny more, leaving it up to the market to do so. Energy Minister Temenuzhka Petkova announced in mid-May that by the end of 2018, a strategic investor for the power plant will be selected after parliamentary approval. However, it has since become clear that there is no government financial guarantee in place for the project, nor a commitment to buy the electricity produced.
Emerging Europe 22nd May 2018 read more »