Westinghouse, Bulgaria to continue talks on nuclear deal

Written by on April 3, 2015 in Business - Comments Off on Westinghouse, Bulgaria to continue talks on nuclear deal

US nuclear firm Westinghouse Electric has said that it would continue discussions with Bulgaria on the proposed new nuclear reactor at Kozloduy power plant, despite the deadline to approve a shareholder agreement lapsing earlier this week.

In August 2014, the outgoing Plamen Oresharski administration signed the agreement with Westinghouse to build a new 1000MW reactor at Kozloduy just days before leaving office. The deal was subject to approval by the current Cabinet of Prime Minister Boiko Borissov, but the two sides failed to reach an agreement before the March 31 deadline.

Westinghouse said that talks on the new structure and timeline of the project would continue. “While there is unanimity that the project is clearly attractive in the long-term, the parties believe that different models will need to be considered for deploying the AP1000 technology in the future,” Westinghouse Electric CEO Danny Roderick said in a statement.

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(Kozloduy nuclear power plant. Photo: Trygve W Nodeland)

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