May 22 (SeeNews) - Bulgaria's energy ministry said on Wednesday it is inviting potential strategic investors to show interest in taking part in the project for construction of a nuclear power plant (NPP) in Belene in the next 90 days.
The 90-day term for expression of interest has started with the publication of the invitation in the Official Journal of the European Union on May 22, the energy ministry said in a statement.
The candidates can be Bulgarian or foreign companies and consortiums. The selection procedure provides them with the opportunity to state their interest in acquiring a minority stake in the future project company.
The candidates' applications must contain details on their organisational and shareholding structure, credit ratings as well as audited financial statements for the past three years, among other requirements.
The selection procedure is expected to be completed within 12 months.
Bulgaria will participate in the project company via a non-monetary contribution - the reactors and other equipment it already owns plus the construction site and the respective licences.
In June 2018, Bulgaria's government mandated energy minister Temenuzhka Petkova to seek options for resuming the construction of Belene NPP, this time without state guarantees and without long-term power purchase agreements.
In December 2016, following international arbitration, Bulgaria paid 601.6 million euro ($671.6 million) in compensation to Atomstroyexport for the equipment already manufactured by the Russian company for the project. The equipment is now stored at the site in Belene, on the Danube river, designated for the construction of the power plant.
In 2008, the then Socialist-led government broke ground for the plant, following a long pause, and hired Atomstroyexport to build two reactors for the plant. After the project made scant headway, Bulgaria abandoned it with a parliament decision in February 2013, citing huge construction costs and unclear prospects for the sale of the electricity produced by the plant.
($ = 0.89576 euro)