July 6 (SeeNews) - Bulgaria's energy ministry signed a memorandum of understanding (MoU) with China's National Energy Administration (NEA) for cooperation in the field of nuclear energy, the ministry said on Friday.
The two institutions will exchange information on the regulatory framework, programmes and practices and licensing procedures, among others, the ministry said in a statement.
In June, the energy ministry said that China National Nuclear Corporation (CNNC) confirmed that it was ready to take part in a potential tender for a strategic investor in the construction of Bulgaria's Belene nuclear power plant (NPP) - a project abandoned in 2013 which the current Bulgarian government wants to revive.
On June 27, Bulgaria's government said it mandated the energy minister to seek options for the construction of the nuclear power plant with the participation of a strategic investor and without Bulgarian state guarantees.
NEA functions under the authority of China's National Development and Reform Commission. It is responsible for formulating and implementing energy development plans and industrial policies, promoting institutional reform in the energy sector, administering energy sectors including coal, oil, natural gas, power (including nuclear power), and renewable energy.
In December 2016, following international arbitration, Bulgaria paid 601.6 million euro ($707 million) in compensation to Russia's Atomstroyexport for the equipment already manufactured by the company for the Belene project. The equipment is now stored at the site designated for the construction of the power plant.
In 2008, Bulgaria restarted the project for construction of Belene NPP after a long pause and hired Atomstroyexport to build two reactors for the plant. After the project made scant headway, Bulgaria finally abandoned it with a parliament decision in February 2013, citing huge construction costs and unclear prospects for the sale of the electricity produced by the plant.
($= 0.8509 euro)