Bulgaria’s National Electricity Company (NEK) on Friday paid 601.6 million euro ($638.7 million) as compensation to Atomstroyexport for the equipment manufactured by the Russian company for the scrapped Belene nuclear power plant project, Atomstryexport’s parent company, Rosatom, said on Friday.
The Russian side is satisfied that NEK has repaid the debt in full and in the timeframe set in the agreement between the two sides signed on October 26, Rosatom said in a press release published on the company’s website.
The sum was awarded to Atomstroyexport by the International Court of Arbitration in Geneva, which earlier this year ruled that NEK must pay 601.6 million euro to the Russian company as compensation for ditching the project for the construction of a nuclear power plant in Belene, on the Danube river.
The two companies signed an agreement on October 26, under which NEK had to pay the full amount due on or before December 25. With NEK having repaid the sum in full December 15, Atomstroyexport will now drop its claim to receive 23.8 million euro interest on the sum, accumulated since the arbitration court issued its ruling on June 14, according to the agreement.
With the sum awarded to Atomstroyexport fully paid, NEK will take possession of the manufactured equipment.
On Tuesday, outgoing prime minister Boyko Borissov reiterated Bulgaria's interest in implementing the Belene project on a market basis, without government investment and without long-term power purchasing contracts, at a meeting with officials of China National Nuclear Corporation (CNNC) in Sofia. At the meeting, attended by energy minister Temenuzhka Petkova, the CNNC representatives expressed their readiness to participate in the implementation of the Belene project under such conditions, the government said in a press release on Tuesday.
(SeeNews)
Bulgaria’s National Electricity Company (NEK) on Friday paid 601.6 million euro ($638.7 million) as compensation to Atomstroyexport for the equipment manufactured by the Russian company for the scrapped Belene nuclear power plant project, Atomstryexport’s parent company, Rosatom, said on Friday.
The Russian side is satisfied that NEK has repaid the debt in full and in the timeframe set in the agreement between the two sides signed on October 26, Rosatom said in a press release published on the company’s website.
The sum was awarded to Atomstroyexport by the International Court of Arbitration in Geneva, which earlier this year ruled that NEK must pay 601.6 million euro to the Russian company as compensation for ditching the project for the construction of a nuclear power plant in Belene, on the Danube river.
The two companies signed an agreement on October 26, under which NEK had to pay the full amount due on or before December 25. With NEK having repaid the sum in full December 15, Atomstroyexport will now drop its claim to receive 23.8 million euro interest on the sum, accumulated since the arbitration court issued its ruling on June 14, according to the agreement.
With the sum awarded to Atomstroyexport fully paid, NEK will take possession of the manufactured equipment.
On Tuesday, outgoing prime minister Boyko Borissov reiterated Bulgaria's interest in implementing the Belene project on a market basis, without government investment and without long-term power purchasing contracts, at a meeting with officials of China National Nuclear Corporation (CNNC) in Sofia. At the meeting, attended by energy minister Temenuzhka Petkova, the CNNC representatives expressed their readiness to participate in the implementation of the Belene project under such conditions, the government said in a press release on Tuesday.
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