According to the Ministry of Energy, "Bulgaria is taking a decisive step toward implementing its most ambitious energy project in decades."
Energy Minister Zhetso Stankov and a delegation he led held final discussions in New York with the management of Citi, the Ministry announced. Following a thorough review and analysis of the technical proposal, both parties agreed to collaborate between the Kozloduy nuclear power plant and the banking institution to secure financing for the construction of new nuclear facilities on the grounds of Bulgaria’s nuclear power station.
"The agreement with Citi marks a milestone for the implementation of this energy project, which is a government priority. The construction of Units 7 and 8 — which will be the first in Europe to operate using Westinghouse’s AP1000 technology — will ensure Bulgaria’s energy independence and long-term stability," Minister Stankov emphasized during his meeting with Stephanie von Friedeburg, Global Head of Public Sector Banking at Citi.
Securing sustainable funding sources is a key element of the country’s strategy to transform its energy system, aligned with the broader goal of achieving energy and climate security.
"With Citi’s proven expertise and strong network, we will provide the financial framework necessary to deliver safe, sustainable, and affordable energy for future generations," said Petyo Ivanov, CEO of the Kozloduy Nuclear Power Plant.
