The company said that initially the main tasks of the project company will be the project development, including a financing concept as well as the later construction and operation plus the subsequent commercialization of the electricity generated by the plant.
Natsionalna Elektricheska Kompania (NEK) will take on a 51% share in the joint project company. RWE Power intends to share its 49% stake in the Belene Power Company (BPC) with a partner, and has already entered into talks with potential partners.
The companies involved in the JV will continue the project development work, and further advance the project over the course of the next 18 months, said the company.
The nuclear power plant, which comprises two modern blocks of pressurized water reactors each with a capacity of 1,000MW, is scheduled for commissioning from 2014. The plant is to be supplied by the Russian company, Atomstroyexport. Other key components will be supplied by Siemens and Areva.
Lyubomir Velkov, CEO of NEK, said: We have chosen RWE as partner because the company fulfilled all the criteria that we had set for the candidates. Also RWE has good experience in the operation of nuclear power plants.
