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EXIM Bank will finance the Bulgarian participation in the new units of Kozloduy NPP The US export-import bank EXIM has agreed to finance 40% of the Bulgarian participation in the project for new capacities at Kozloduy NPP. In addition, the financial institution will fully finance the delivery of the US equipment for Units 7 and 8. This was stated by the caretaker energy minister Vladimir Malinov during the ceremony on the occasion of the introduction of the American fuel of Westinghouse in the 5th unit of the plant. The possibility of the Export-Import Bank of the United States of America to join the project became clear during Malinov's visit to the US a few days ago. At that time, the announcement indicated that the bank was beginning to consider the possibility of loan financing and would launch actions at the operational level to ensure that it was provided according to schedule. According to the government's calculations, the construction of the two new reactors at Kozloduy NPP using the technology of the US Westinghouse will cost up to 14 billion euros and the state will be the sole investor in the project. The financial model for the new capacity at Kozloduy includes 25-30% equity and 70% borrowed capital. However, the project is not yet fully financially secured. It will start at the end of 2023 with 500 million leva, which was secured as a loan from the Bulgarian Energy Holding (BEH) in order not to burden the budget. Money is also expected to come from the sale of Belene NPP equipment to Ukraine, with which, however, it is not clear where the negotiations are. For the new unit 7 this year the budget also included state guarantees for BGN 3 billion. Kozloduy NPP will terminate the contract with Russia for the supply of nuclear fuel, and the available fuel will be used as a reserve. This was announced by the company's executive director Valentin Nikolov during the ceremony on the occasion of the introduction of an alternative type of fuel in unit 5 of the plant.The fresh nuclear fuel is of the RWFA type, produced by the US Westinghouse, which replaces the Russian TWEL, with which the Bulgarian nuclear power plant has been operating so far. The last of the first 43 cartridges of the US nuclear fuel was installed yesterday and the unit is expected to be put back into operation on June 9. The director of Kozloduy NPP said that the price of the US fuel is similar to that of the Russian fuel. In the meantime, negotiations with France's Framatom for nuclear fuel for unit 6 are continuing.

 

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