Bulgarian Energy Holding to search for consultant for Belene nuclear plant.

By bne IntelliNews December 23, 2009
State Bulgarian Energy Holding (BEH) plans to launch a procedure for selecting a consultant for the project for construction of a 2,000 MW nuclear plant in the Danube town of Belene by end-January. The intention will be published in Financial Times and The Economist. The consultant will have the following responsibilities: to prepare a conception for the project development, to update the economic model, to prepare and conduct a procedure to select a strategic investor, to support the restructuring of the project, to support the preparation of communication strategy and measures to guarantee the transparency of the project. In February last year, Russias AtomStroyExport signed EUR 4bn contract to build the plant, but later estimated that the construction and the launch of the two units will cost up to EUR 6bn. In October, Germany s energy company RWE, which was controlling 49% in the company that will administer the construction works and operate the Belene plant, withdrew from the project due to difficulties as a result of the world financial and economic crisis and failure to complete two stages of the project. Russian authorities informed that may vie for a controlling stake in the project and the proposal for a loan to finance it is still valid.

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