HSBC chosen as consultant for Bulgaria's Belene nuclear project

Bulgarian Energy Holdings (BEH) has picked HSBC to be the strategy and financial adviser on the Belene nuclear power plant project.
 
According to Nuclear Engineering International, the UK bank will now carry out a financial assessment of the project, comprising two Russian VVER-1000 reactors to determine if it is economically feasible.
 
HSBC was selected following a competitive international tender process. Six candidates had submitted documents to bid in the selection process to become a consultant for Belene - HSBC, Societe Generale, KPMG in a consortium with McGuire, Rothschild, Argil, and Ernst & Young.
 
In a statement BEH outlined HSBC’s mandate. It includes: preparation of the project development concept with focus on financing and contractual arrangements; production of a regional electricity market analysis and demand study; and the development of an economic and financial model for Belene NPP. HSBC will also assist BEH in negotiations with potential strategic investors and will be responsible for preparing the necessary commercial and legal documents.
 
BEH said that HSBC’s first task will be to produce a report indicating its view of the contract development, which will address organizational and technical aspects of the contract, anticipated problems and provide recommendations.
 
Last month National Electric Company (NEK) signed an agreement with Atomstroyexport, prolonging the term for final approval of the Belene EPC contract until 30 June 2011. The parities also said that in the period to end June they will carry out a detailed safety assessment of Belene, in light of the recent events in Japan.
 
For more nuclear news, click here

Sponsored by FLSmidth
Related Articles

Wylfa nuclear power plant to restart in a week

The Wylfa nuclear power plant in the UK is expected to restart soon after being shut down since earlier in March.

Westinghouse asked to take 49% share of Bulgaria nuclear power plant

Bulgaria has asked Westinghouse Electric Co. to take up a 49 percent stake in the country’s nuclear power plant expansion project.

Follow Power Engineering on Twitter
Latest News

PNM files ownership plan, coal supply deal with regulators

New Mexico's largest electric provider says it's on track to meeting a deadline for submittin...

Oklahoma attorney general challenges EPA's clean-air plan

A plan by the U.S. Environmental Protection Agency to reduce emissions from coal-fired power ...

Wave Energy Week will mix marine energy developers with traditional hydropower

Oregon Gov. Kate Brown, Democrat, has proclaimed “July 13-17, 2015 to be Oregon Wave Week in ...

Public Service Company of Oklahoma seeks rate increase

Public Service Company of Oklahoma is asking for a 13.6 percent rate increase it says is need...

GAO looks at reliability impacts of changing power generation mix

The Government Accountability Office (GAO) on June 29 released a study provided a month befor...

On the day after MATS decision, Bernstein sees only a limited reprieve for coal units

In light of the U.S. Supreme Court ruling against the EPA's Mercury and Air Toxics Standards ...

Pence says Indiana will not comply with coal plant regulations

Indiana will not comply with President Barack Obama's plan to battle climate change by requir...

Westermost Rough offshore wind park enters operations

The 210-MW offshore wind power plant, Westermost Rough, has entered operations. The project w...
Power Engineering Current Issue
03/01/2015
Volume 119, Issue 3
1503pe-cover
Products Showcase
Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015

Power Industry Wire News

NW Natural Announces Dividend and Schedules Conference Call to Review Results for the Three and Six Months Ended June 30, 2015

NW Natural Announces Dividend and Schedules Conference Call to Review Results for the T...

Vantage Drilling Responds to News Reports Regarding Petrobras

Vantage Drilling Responds to News Reports Regarding Petrobras

National Grid Drives Innovation Through REV Demonstration Projects

National Grid Drives Innovation Through REV Demonstration Projects

Cardinal Resources' $28.8 Million Cameroon Red Bird Contract Advances; Company Expects Financing Completed, Implementation, in Q3-15

Cardinal Resources' $28.8 Million Cameroon Red Bird Contract Advances; Company Expects ...

Letter From CGE Energy (McKenzie Bay Intl.) President Bryan Zaplitny

Letter From CGE Energy (McKenzie Bay Intl.) President Bryan Zaplitny

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>