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Sat, Feb 11 2012
RWE participation in Belene on the brink of collapse - FTD
Photo: Stoyan Nenov
Participation of Germany's utility RWE in the Belene nuclear power plant is on the brink of collapse, Financial Times Deutschland (FTD) said.
Quoting unidentified industry insiders, the FTD said that financing for the 4 billion euro project had not been obtained.
It was expected that Bulgaria's new government would call off the plan to build two nuclear reactors at the Belene site, the FTD said.
Economy Minister Traicho Traikov recently said; "we must address the question as to whether Bulgaria really needs that production capacity."
Preparatory work for the power plant was said to have already costed 400 million euro.
Belene would be the second nuclear power deal for the RWE group to fail, as in mid-July 2009, a court in The Netherlands, forbade RWE to fast-track a procedure for the purchase of a 50 per cent share in Borssele, the only nuclear power plant in The Netherlands.
According to FTD, RWE was guilty of being responsible for one of Europe's largest emissions of climate gas and was in urgent need of CO2-free power plant production to avoid having to spend millions on buying additional pollution rights.
Quoting unidentified industry insiders, the FTD said that financing for the 4 billion euro project had not been obtained.
It was expected that Bulgaria's new government would call off the plan to build two nuclear reactors at the Belene site, the FTD said.
Economy Minister Traicho Traikov recently said; "we must address the question as to whether Bulgaria really needs that production capacity."
Preparatory work for the power plant was said to have already costed 400 million euro.
Belene would be the second nuclear power deal for the RWE group to fail, as in mid-July 2009, a court in The Netherlands, forbade RWE to fast-track a procedure for the purchase of a 50 per cent share in Borssele, the only nuclear power plant in The Netherlands.
According to FTD, RWE was guilty of being responsible for one of Europe's largest emissions of climate gas and was in urgent need of CO2-free power plant production to avoid having to spend millions on buying additional pollution rights.
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That the EU money finnansiera nuclear power plant in Europe's most corrupt country is completely insane. What does it cost to quiet down a leak in the safety of a nuclear power plant?