Bulgaria is counting on loans from Russia, Germany and France to build a new EUR4-billion nuclear power plant on the Danube, Deputy Economy and Energy Minister Yavor Kuyumdjiev said Thursday.
Funding for the plant, which was due to come from the Bulgarian government and German power giant RWE AG (RWE.XE), was proving difficult, Kuyumdjiev said in an interview with the daily Klassa published Thursday.
"Since RWE is having trouble finding funds, the National Electricity Company, which is owned by the Bulgarian state, must look for backers for this year," he said.
Bulgaria was "considering asking export credits from France and Germany to ensure the participation of Areva and Siemens in the project," Kuyumdjiev said.
The two-gigawatt, two-reactor plant in the northern town of Belene is to be built by Russian company Atomstroyexport with French Areva SA (CEI.FR) and German Siemens AG (SI) as subcontractors.