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

Westinghouse continues to provide nuclear fuel to French power plants

Westinghouse Electric Co. and EDF signed a new long-term nuclear fuel contract to support EDF’s nuclear power plants in France.

Susquehanna nuclear unit 1 returned to service after leak found

Workers at PPL’s (NYSE: PPL) Susquehanna nuclear power plant reconnected Unit 1 to the grid after repairing a small leak inside the containment structure.

Follow Power Engineering on Twitter

Latest News

Shutterstock coal production trucks

Weekly Coal Production

The Weekly Coal Production shows how much coal is being produced across the U.S.

Federal Reserve Bank of Dallas Weekly Economic Indicators financial business

The Federal Reserve Bank of Dallas' Economic Indicators

The Federal Reserve Bank of Dallas offers a glimpse into how the markets are doing domestical...

Kvaerner awarded contract for gas-fired power plant in Delaware

Kvaerner North American Construction Inc. and its joint venture partner, Parsons Brinckerhoff...

Canadian Solar purchases two solar projects

Canadian Solar Inc. has acquired a majority interest in two utility-scale solar power project...

Operators Restart Unit 2 at PPL Susquehanna

Unit 2 at the PPL Susquehanna nuclear power plant near Berwick, Pa. resumed generating electr...

Settlement agreement limits cost recovery at Edwardsport

The Indiana Utility Regulatory Commission (IURC) on Dec. 27 modified and approved a settlemen...

Toshiba in talks to sell portion of Westinghouse nuclear unit

Toshiba Corp is in talks  to sell up to 16% of its stake in the Westinghouse Electric Co...

Utah nixes nuclear waste storage facility

Plans to park radioactive waste at a storage facility in Utah have been officially called off.

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-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

Power Industry Wire News

Rockdale Resources Enhances Operations, Implements Cost Reductions and Changes Board Composition

Rockdale Resources Enhances Operations, Implements Cost Reductions and Changes Board Co...

Cardinal Energy Group, Inc.: Bradford Lease Drilling Report

Cardinal Energy Group, Inc.: Bradford Lease Drilling Report

MDU Places Dakota Natural Gas Pipeline on Hold, an Industrial Info News Alert

MDU Places Dakota Natural Gas Pipeline on Hold, an Industrial Info News Alert

Top Industrial Market News Stories for the Third Week of December 2014, an Industrial Info News Alert

Top Industrial Market News Stories for the Third Week of December 2014, an Industrial I...

American Leisure Holdings, Inc. Reports on Wholly Owned Subsidiary Financials

American Leisure Holdings, Inc. Reports on Wholly Owned Subsidiary Financials

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 >>