Monday 4 August 2014

Bulgaria inks nuclear deal with Westinghouse

Bulgaria has signed an agreement with Westinghouse Electric Company for the expansion of a nuclear power plant in the country.

US-based Westinghouse, part of Japan’s Toshiba group, said it will provide all of the plant equipment, design, engineering and fuel for the Kozloduy nuclear power plant. It will help build a new 1,000 reactor estimated to cost more than $5 billion (£3bn).

The project is expected to create more than 20,000 jobs in Bulgaria help the EU nation reduce its energy dependence on Russia.

Danny Roderick, Westinghouse President and CEO said: “The AP1000 nuclear power plant will offer a unique combination of benefits to Bulgaria: unequalled safety, licensing and project certainty, job creation through sustainable localisation and technology and fuel diversification, in line with EU policies and objectives.”

The reactor is expected to be online by 2023.