site.btaBulgaria to Provide BGN 3 Bln in State Guarantees for Construction of Unit 7 of Kozloduy N-plant
There are plans for Bulgaria to provide BGN 3 billion in state guarantees for the construction of Unit 7 of Kozloduy N-plant, said Energy Minister Rumen Radev, approached by BTA in connection with new loan agreements envisaged in the 2024 budget bill to finance the construction equivalent to EUR 1,500, 417, 089. The state guarantee is required for raising loans on behalf of the project company for the construction of the Westinghouse AP-1000 reactor.
"The state guarantees can aid the project company in negotiating funding to achieve the best interest rates and terms,” said the Minister.
At the end of October the government decided to increase the capital of NPP Kozloduy New Builds Plc by BGN 500 million.
It is yet to be decided which banks will be approached for funding. The Minister said that there will likely be several banks because of the scale of the project. "The state should own the facilities,” said Radev.