On 2 March, the Energy Commissioner, Günther Oettinger, said he favoured a European private investor for the completion of the Belene nuclear project in Bulgaria during an international forum on energy security in the Black Sea region. He declared that the EU would lend its support to the country to find one.

"We are very cautious about this project. We are aware of Bulgaria's existing contracts, which it should meet. But we also have a marked interest in having European participation in the project. We will hold active consultations to harmonise Bulgaria's interest in the project with that of the EU." Said Günther Oettinger.In February 2010, Russia offered a 2 billion € loan to Bulgaria to resume the construction of the 2,000 MW nuclear power plant (NPP) until it found a strategic investor. The loan could give Moscow a majority stake in the plant and Bulgaria’s energy dependence on Russia.

The Russian company, Atomstroyexport, won the bid to build a new 2,000MW NPP. The first unit of the new plant was planned to be completed in 2013, and the second in 2014. The construction of the plant was officially launched in September 2008, but the Belene NPP project was suspended due to difficulties to finance the construction. RWE Power cancelled its potential acquisition of a 49% stake and the government announced in autumn 2009 that it would reduce the state-owned utility NEK's stake from 51% to 20%-30%.

Bulgaria is now looking for new investors to take over the rest. NEK and Atomstroyexport signed a contract amendment on 9 December 2009 to extend the first contract period to March 2010. It will enable Atomstroyexport to complete the stage of “the technical design” (a detailed technical design) and to submit it to regulators for approval. The building of the NPP will now depend on potential new investors.

The new plant will generate power for domestic consumption and once again secure the country’s position as a regional power exporter. The country used to cover 60% of the power deficit in South East Europe until units 3 and 4 of the Kozloduy nuclear power plant (NPP) were shut down on 31 December 2006 as a precondition to joining the European Union. (Picture of Belene when built)