Minister Malinov discussed the financing of project for new nuclear capacity with the President of Exim Bank
“Building new nuclear capacities at the Kozloduy Nuclear Power Plant site is one of the top priorities in the work of the incumbent government. We are confident that in close cooperation with our U.S. partners from Westinghouse, we will be able to comply with the timetable for the construction of Unit 7, adopted by the National Assembly of the Republic of Bulgaria on 18.12.2023. " That is what Energy Minister Vladimir Malinov said during his meeting with Reta Jo Lewis, President and Chair of the Board of Directors of EXIM Bank.
The Еxport-Import Bank of the United States of America (EXIM Bank) is the official U.S. Export Credit Agency. This is an independent agency whose mission is to support U.S. companies in developing local and international projects. Pursuant to the preliminary timetable of the said decision of the National Assembly, negotiations to secure external financing with financing institutions for the construction of new nuclear capacities should be completed by 30.07.2025.
The President of EXIM Bank confirmed the priority for financing the project in Bulgaria. According to Reta Jo Lewis, the Bank will start work at operational level to provide funding according to the Parliament's schedule. “We rely on the experience and expertise of the Export-Import Bank of the United States of America to build Unit 7 of Kozloduy Nuclear Power Plant within the deadlines set. I believe that EXIM Bank joining the project will render it even more attractive to other funding institutions.“ Minister Malinov underlined. The discussion identified the necessary steps to speed up the financing process.
The Energy Minister and the President of the Bank also discussed the development of renewables and batteries as energy storage technology. “The Bulgarian side is working actively in this area to respond adequately to future challenges in the development of the energy sector. The need to introduce energy storage systems that will enable stability and predictability of the energy produced from renewable sources is increasing,” Mallinov stressed.