Bulgaria Paying Off Debt for Belene NPP Paves Way for New Projects With Russia

Bulgaria's National Electric Company (NEK) has paid off its debt to Russia’s Atomstroyexport within the framework of a ruling on the project of Belene Nuclear Power Plant, paving way for new joint Moscow-Sofia nuclear projects, Russia’s Rosatom nuclear corporation said.

MOSCOW (Sputnik) – In 2006, the Russian Atomstroyexport company, a subsidiary of Rosatom, won an international tender on constructing two units of the Belene NPP but the project was frozen in 2009 after the new government headed by Boyko Borissov had come to power.

The International Court of Arbitration at the International Chamber of Commerce ruled in June that NEK had to pay 601.6 million euros ($645 million) to Russia, which according to Rosatom it did Friday.

"During the time after the arbitration decision, the Bulgarian side demonstrated a responsible approach to resolution of this issue, and proved itself to be a responsible business partner. Russia and Bulgaria are connected by long-term successful nuclear cooperation, and resolution of relations within the framework of the decision of the Arbitration Court on the Belene NPP opens up new prospects for the future implementation of joint projects," Rosatom's Deputy CEO for Corporate Development and International Business Kirill Komarov said, as quoted by the company.