July 16 (Reuters) - Bulgaria has secured a partnership
with U.S. bank Citi to finance the construction of nuclear
power units at Kozloduy NPP, marking the country's largest
energy project in decades, its energy ministry said on
Wednesday.
Energy Minister Zhecho Stankov held final talks in New York
with Citi's leadership, agreeing on financing for units 7 and 8
at the Bulgarian nuclear site that will use Westinghouse's
AP1000 technology.
"The agreement with Citi is an essential step for the
successful implementation of the government's priority energy
project, ensuring energy independence and long-term stability,"
Stankov said during the meeting with Stephanie von Friedeburg,
Citi's Global Director of Public Sector Banking.
For Citi, serving as exclusive coordinator and arranger of
export credit, the deal represents its largest nuclear financing
project in Central and Eastern Europe, according to the ministry
statement.
It did not specify the exact amount of financing agreed and
Citi was not immediately available for comment to Reuters.
Kozloduy is Bulgaria's only nuclear power plant and dates
back to the 1970s. It has two 1,000 megawatts Soviet-made
reactors in operation. Four others were closed by 2007.
Under the expansion plans, unit 7 would be ready by 2033 and
unit 8 would follow at a later stage.
South Korea's Hyundai Engineering & Construction
received parliamentary approval in Bulgaria in February to
advance discussions on building two nuclear reactors with a
combined capacity of 2,300 MW.