Ten European energy groups have shown interest in becoming strategic investors in a €2bn ($2.7bn) project to build a new nuclear plant at Belene in Bulgaria.

Three nuclear operators - France's EDF, the Czech group CEZ and Eon of Germany - are among the potential bidders for a 49 per cent stake in a Bulgarian-controlled company that would build and operate the plant.
NEC, the state electricity utility, would hold the other 51 per cent and would buy the plant's full output for at least 15 years. Construction would start next year.

Bulgaria wants to replace 2,000 Mw of capacity at its Kozoloduy nuclear plant by 2014 in order to service a fast-growing economy and increase energy exports to the rest of south-east Europe.
Four Chernobyl-era units at Kozoloduy were shut down as a condition for Bulgaria's European Union accession last January, leaving two newer units in operation. Russia's Atomstroyexport will provide two 1,000Mw third-generation reactors for the Belene plant.

"Belene aims at reducing our reliance on oil and gas supplies, which come from Russia. Our policy is fully consistent with EU priorities," Sergey Stanishev, prime minister, told parliament earlier this year.
Bulgarian opinion polls show strong support for the Belene project. The Kozoloduy closures prompted popular protests and demands by Bulgarian Euro-MPs for the re-opening of units 3 and 4, shut down last December.

By Kerin Hope, Adam Jones and Theodor Troev
Published: June 14 2007

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