Bulgarian nuclear plants to modernise with Community funds
Over 200 million euro has been earmarked to upgrade nuclear power plants in Bulgaria so they meet internationally acceptable safety levels. The money comes in the form of a loan from the European Commission, underwritten by the Bulgarian government and the national electricity company, NEK, and is part of an agreement reached on the closure of older and less technologically advanced units. Following an independent assessment concluded in April confirming that the project to modernise the Kozloduy Nuclear Power Plant is economically and financially viable, the European Commission approved the loan of 212.5 million euro on behalf of Euratom. The preparatory phases of the project have started, with the participation of a European consortium. The total cost of the project is estimated at 490 million euro. Non-upgradeable Kozloduy units will be closed by the Bulgarian government, following an understanding agreed with the Commission in 1999. The significance of promoting nuclear safety in Central and Eastern Europe was recently underlined by the Cologne European Council, in the context of the Union's enlargement.