The legal and financial case with Belene Nuclear Power Plant

Our colleague Svetoslav Dimitrov, Partner together with Emil Goranov, Energy Expert at Bulgarian Parliament participated in a discussion on Blumberg TV regarding the challenges before National Electricity Company EAD (NEC) for payment of 620 million euro to Rosatom's subsidiary Atomstroyexport by virtue of a decision of the International Court of Arbitration. The court awarded the sum as compensation for ditching the project for the construction of a nuclear power plant in Belene by the government of Bulgaria.

The discussion was provoked by adoption of a special law by Bulgarian Parliament for financing NEC for payment of the sum awarded by the arbitration court. Together with a discussion about the strategic interest of Bulgaria in the nuclear energy production Svetoslav Dimitrov briefly expressed his opinion that there are possible legal actions to be taken for strengthening the position of NEC in the negotiation process with Atomstroyexport. He explained that by initiating such actions NEC would not change the awarded sum but will be in a different position asking for reduction of the accumulated interest, negotiating instalment payments or other beneficial for both parties solution.