Bulgarian politicians are working to pull the Belene project 'out of the swamp' with a new financial framework while the search is on for missing money.
The country could reduce its stake in the two-reactor project to as little as 20%, according to minister for economy, energy and tourism Traiko Traykov. The previous figure was 51%, to be held by the National Electricity Company (NEK) with the remainder held by utility RWE of Germany.
NEK remains the favoured state vehicle for investment in Belene but the company has suffered bad financial results and is currently undergoing an audit. It is hoped that the probe will solve the riddle of what exactly has happened to some EUR400 million ($580 million) earmarked for Belene.
