Bulgarian Minister of Energy Temenuzhka Petkova said that Bulgaria considers an interest rates regarding the arbitration ruling on abandoned nuclear power plant Belene as miscalculated.
In mid-June, the Arbitration Court in Geneve has ruled that Bulgaria has to pay compensation to Russian company Atomstroyexport (ASE) over the cancelled project for the construction of nuclear power plant Belene. According to the ruling, Bulgaria will have to pay for the equipment which ASE produced for the plant in the amount of 550 million euros. The project for construction of NPP Belene was finally terminated in March 2012, by the right wing government of Bulgaria, who claimed that project’s cost would be even 10.35 billion euros and thus would be economically unfeasible for Bulgaria.
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Tags: arbitration, Atomstroyexport, Belene, Bulgaria, electricity, NPP, NPP Belene, nuclear, Russia