The National Electric Company (NEC) started searching for a strategic investor to participate in the Belene nuclear power plant (NPP) project.

A strategic investor can express interest in up to 49 per cent of the shares of the company that will be set up to own and manage the power plant. NEC will have at least 51 per cent of the shares in this new company.

Contract and financial parametres of the deal are still being clarified and could be subjected to change, NEC representatives said as quoted by investor.bg.

The construction site for the power plant received approval in 1984 and construction works began in 1987.

Construction stopped in 1991 and in the period 2000 experts carried out several technical analyses.

Government approved the re-launch of construction in April 2004. After a tender, Russian Atomstroyexport won the project of initial construction works before a final agreement is signed.

The construction of the first Belene block should start in 2008 and should be finalised by 2014. The second block should start functioning in January 2015.