site.btaBulgaria Opens Procedure to Select Strategic Investor for Belene N-plant

March 11 (BTA) - The National Electricity Company NEK)
has issued an invitation to strategic investors for the
construction of the Belene N-plant, the Energy Ministry said on
Monday. The procedure is in line with a decision of the National
 Assembly of June 7 2018 and of the Council of Ministers of June
 29 2018.

Potential investors can express interest in acquiring a minority
 stake in the future project company and/or purchasing
electricity generated from the future facility.

Bulgaria will contribute to the project company which will
operate the Belene N-plant  non-cash assets which include the
site and the equipment for the future facility, permits,
licences and other related documents. The procedure lays down a
number of terms to protect the country's economic interest. The
Bulgarian state through NEK will keep minority blocking rights
on the Shareholders General Meeting.

The project will be implemented on market principles, without
longterm agreements for the purchase of electricity by the state
 and the provision of state guarantees.

Applications can be submitted within 90 days from the
publication of the call in the EU Official Journal. The
tentative deadline for the conclusion of the procedure is 12
months from the date of publication. RY/PP