“Before the money is granted a company between the Belene NPP shareholders, National Electric Company, and the German contractor, RWE, must be established. All participants in the project, including the structuring bank, BNP Pariba, agree with the Russian loan”, Atanasov said.
In October 2006, the NEK has approved the offer of Atomstroyexport CJSC, Areva S.A, and Siemens AG for the construction of the Belene NPP using third-generation VVER-1000/V-446B reactors.
As on January 18, 2008, Atomstroyexport and NEK signed the contract for the design, construction and installation of units 1 and 2 of the Belene NPP. The construction of the Belene NPP officially started on September 3, 2008.
NEK and RWE signed the contract with which the German company was chosen as a strategic investor in the Belene project in December 2008.
As per the contract, RWE will receive a share of 49% of the Belene plant in exchange for a capital payment of EUR1.275 billion, a premium of EUR550 for NEK, and a loan of EUR300 million for the purchase of equipment and other expenditures.
Thus, RWE will be providing more than EUR2 billion, which is more than half of the cost of the project, which is estimated at EUR4 billion.
