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Fri, May 25 2012
RWE mulls withdrawal from Belene nuclear station - report
Sunset for Belene?
Photo: Nadezhda Chipeva
The chief executive of German utility RWE, Juergen Grossmann, was considering withdrawing from the project to build Bulgaria's second nuclear power plant at Belene on the Danube River, because of rising costs, Bloomberg news agency said on September 25, quoting a report in Handelsblatt daily.
Last year, RWE's management has strongly defended the decision to buy 49 per cent in Belene, despite increasing pressure from environmental groups in Germany and lukewarm shareholder support for the deal.
RWE agreed to buy a minority stake in Belene for 1.275 billion euro, but under the terms of the contract, its total commitments could rise to two billion euro by the time the power station is scheduled to be finished in 2014.
The money was be used to begin construction in 2009, but the German utility said it would pay its share only after Bulgaria's state-owned power grid operator NEK, which owns the rest of the project, secured its part of the financing.
NEK has found it hard to raise any funds with banks reluctant to lend money to a project that has caused such strong opposition and the change of government in Sofia put a further dent in the project.
New Prime Minister Boiko Borissov has asked for a "legal and financial audit" of the project so far, which, according to Economy Minister Traicho Traikov, has cost Bulgaria about one billion leva even before actualy construction has stared.
Last year, RWE's management has strongly defended the decision to buy 49 per cent in Belene, despite increasing pressure from environmental groups in Germany and lukewarm shareholder support for the deal.
RWE agreed to buy a minority stake in Belene for 1.275 billion euro, but under the terms of the contract, its total commitments could rise to two billion euro by the time the power station is scheduled to be finished in 2014.
The money was be used to begin construction in 2009, but the German utility said it would pay its share only after Bulgaria's state-owned power grid operator NEK, which owns the rest of the project, secured its part of the financing.
NEK has found it hard to raise any funds with banks reluctant to lend money to a project that has caused such strong opposition and the change of government in Sofia put a further dent in the project.
New Prime Minister Boiko Borissov has asked for a "legal and financial audit" of the project so far, which, according to Economy Minister Traicho Traikov, has cost Bulgaria about one billion leva even before actualy construction has stared.
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Photo Gallery: Belene nuclear power plant, 28 years later
The construction site of Bulgaria's second nuclear power plant on the Danube River, 28 years after the project was given a green light by the then communist government.
Germany's RWE pulls out of Bulgaria's Belene nuclear plant project
The world economic downturn and problems with the project's execution cited as the reasons.
Bulgaria determined to combat crime, PM tells US, French and German envoys
Prime Minister Boiko Borissov held his first working meetings with French ambassador Etienne de Poncins, newly-appointed German ambassador Matthias Höpfner and ambassador John M. Ordway, chargé d’affaires of the US embassy.
Stalling time
The future of Bulgaria’s big energy projects with Russia remains unclear after ministerial visit
Bulgaria spent 100M euro on Belene nuclear plant fees
Bulgaria was looking for more private investors for the planned nuclear power plant at Belene, but the project has already cost about one billion leva, of which one fifth were spent on consultancy fees.
Economy Minister: Bulgaria does not need Belene nuke
Bulgaria's second planned nuclear station at Belene on the Danube River could be a viable economic project, but Bulgaria did not need it to prevent electricity shortages and black-outs, minister says.
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Appointments
Employment Agency
Kamelia Lozanova has been appointed the executive director of the Employment Agency, a position she has held ad interim since September 2011, following the resignation of her predecessor Rossitsa Stelianova. Prior to that, Lozanova was the agency's deputy executive director in charge of international projects and European programmes. She has been with the agency for more than 20 years. Lozanova has a degree in Slavonic philology from the St Kliment Ohridski University of Sofia.
Uniqa
Gloria Dimitrova has been appointed executive director and member of the managing board at Uniqa Life Insurance Bulgaria. Dimitrova began her career in 1998 at the insurance supervision directorate, but moved to the private sector and worked for professional services and insurance brokerage firm Marsh&McLennan and US insurer AIG, both in Bulgaria and the Middle East. She joined Uniqa as regional director for Sofia in 2010. Dimitrova has a degree in economics from the University for National and World Economy in Sofia and a master's degree in insurance from the Business Academy in Svishtov.
Beiersdorf
Bedros Kalfayan, general manager of skin care and cosmetics company Beiersdorf Bulgaria, will oversee the parent's company units in Romania and Moldova starting April 1. Following company restructuring, Beiersdorf's subsidiaries in the three countries were merged and are now one unit, part of Beiersdorf Central and Eastern Europe. Kalfayan joined Beiersdorf in 2007 as sales manager and was promoted to general manager in 2008. Prior to that, he worked for Axxon Bulgaria, Ferrero and Rubella. Kalfayan has a master's degree in industrial management from the Technical University in Sofia.
Kamenitza
Yassen Lyubenov is the new head of marketing at Bulgarian beer brewer Kamenitza. Lyubenov has 12 years of experience in marketing in the fast-moving consumer goods sector and has started his career as assistant brand manager at Kraft Foods Bulgaria. He later became brand manager at Wrigley Bulgaria, with responsibilities for Bulgaria and Macedonia. Prior to joining Kamenitza, he was senior marketing manager at Wrigley Russia, where he was in charge of brand expansion into Ukraine, Belarus, Central Asia and the Caucasus. Lyubenov has a bachelor's degree in international business administration from the University of Lincoln, UK.
Hewlett-Packard
Sasha Bezuhanova has been appointed Hewlett-Packard public sector director for emerging markets, where she will oversee HP public sector activities in 63 countries, including Bulgaria. Bezuhanova will also be in charge of HP's relations with the European Union. Bezuhanova has been HP's public sector director for Central and Eastern Europe since 2008; before that she was general manager of HP Bulgaria since 1998. Bezuhanova has a master's degree in electronics from the Technical University in Sofia and has completed a managment programme at INSEAD.
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There is, in my opinion, a case to be made for the need of a "base-load" nuclear power plant, allthough as many might agree, it is an extreme - and likely unwise - "solution".
Many rest in the bliss of ignorance regarding this technology. I have met a few.
Likewise others' "bliss" comes from a similar lack of knowledge regarding "windfarms". Current (80m high) "technology" is quite unable to support itself, and yet is put-forward as if it were some kind of alternative which we simply had to choose. It ISn't an alternative [...]
Read the full comment in its current form, which is so hopelessly out of tune with physical reality, that is does not supply enuf energy - throughout its entire working life - to enable us to replace it !!
On the other hand, a serious desigh of wind-energy system can not only sustain itself, but Grow at several percent p.a. without energy other than from the wind. Not only that, but it does not affect the landscape even as much as existing "power lines", since the Turbine-Alternator(note) Devices are fittable in their millions into existing architecture. 5% p.a. of cost is readily achievable, and much more in super-sites such as west coasts of uk. The uk government, for one, must be aware of this by now, yet continues to pay their friends to wreck the countryside with "windfarms", which actually exacerbate Global warming .
bertdotwindonatgmaildotcom