BULGARIA HAS OPPORTUNITY TO BE A NUCLEAR REGIONAL LEADER – WOLF THEISS AND PILLSBURY ROUNDTABLE FINDS
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Sofia, 20 May 2010 – Law firm Wolf Theiss, in cooperation with Pillsbury and consultancy company Technology Transfer Center, brought together industry leaders and government representatives – including Mr. Traicho Traikov, Minister of Economy, Energy and Tourism of the Republic of Bulgaria – for a nuclear energy roundtable. The forum, held on Monday (17th May 2010) at Tishman Sofia Airport Center (SAC), finds that Bulgaria needs to boost its nuclear power production and position itself as a leader in Southeastern Europe’s market as energy usage in Bulgaria and the Balkans continues to increase. Currently, Bulgaria runs two 1,000 megawatt (MW) reactors in Kozloduy. However, Belene, a planned 2,000 MW plant, has been put on hold due to a lack of financing. Since renewable energy by itself will not be able to completely satisfy energy demand in Bulgaria, the country needs a national debate and strategy to assess what the most appropriate energy mix should be. The nuclear roundtable aimed to provide an intersection between government and business to achieve this common goal and is the first in a series on this issue. Richard Clegg, Head of the Wolf Theiss office in Sofia, noted: “Bulgaria has the chance to become a net exporter of energy, providing important revenue for the country that can be used to invest in the long term in general infrastructure, such as water and transport. However, it is an opportunity that is limited in time.” George Borovas, a partner and head of Pillsbury's International Nuclear Energy Projects team based in London, noted at the roundtable that there are some very positive advantages to the nuclear industry in Bulgaria. "Bulgaria, as well as many Central and Eastern European countries, have existing nuclear programs and related infrastructure which is a major advantage," he said. "Now the key issue is to determine the best project and financing structures to make new-build a reality in Bulgaria and elsewhere." Minister Traicho Traikov stated that nuclear power has huge potential for further development worldwide. “Some of the disadvantages that we face today will no longer exist in the near future. We expect that by 2030 the market will be able to introduce 4th generation reactors, which will change the comprehension of nuclear energy in terms of the effectiveness of the usage of nuclear fuel, manoeuvrability and flexibility,” Minister Traikov emphasized. Download .pdf > |
