The Minister of Energy Zhecho Stankov held a key meeting with the Ambassador of the Republic of Korea, Dong-be Kim, during which the prospects for developing joint projects in the nuclear energy sector were discussed. The meeting took place with representatives of the Korean company Hyundai Engineering and Construction, with a primary focus on the strategic expansion of the Kozloduy Nuclear Power Plant.
The official representatives emphasized the priority importance of the project for building units 7 and 8, expressing confidence in its successful implementation. Minister Stankov presented the steps taken so far in detail, with particular attention paid to the financial structure of the initiative.
According to the presented financial parameters, up to 30% of the project will be financed with Bulgaria's own funds. Investment institutions from the USA and the Republic of Korea have already expressed readiness to provide loan financing for construction activities.
A key moment in the discussion was the preparatory stage and the construction of the necessary infrastructure. Both sides defined these aspects as critically important for the timely and successful implementation of the large-scale energy project.
The Ministry of Energy is actively negotiating with the European Commission regarding the eligibility of state aid for the project. A project company "NPP Kozloduy - New Capacities" has been established, which will manage the expansion process.
Ambassador Dong-be Kim expressed categorical support from the Korean government for deepening bilateral cooperation in the energy sector. Minister Stankov, for his part, emphasized the strategic importance of the partnership with the Republic of Korea for Bulgaria's energy security.
Experts from both sides continue to work on the project details, with the final agreement expected to be finalized in the coming months. This project is seen as key to the modernization of Bulgarian energy and the diversification of production capacities.
Contacts between the two countries in the energy sector will continue to develop, with a series of expert meetings and consultations expected in the coming months.