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Bulgaria and the United States Get their Civil Nuclear Deal Sealed

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After an internal back and forth between the foreign nations, the two nations, Bulgaria and the United States of America have signed a pact, aiming to have two additional reactors at the Kozloduy Nuclear Power Plant, located in Bulgaria. The Nuclear Cooperation principle has been talked about and debated to the fullest, with the same being hailed as the definite priority for every country with a nuclear reach, and this agreement also aims to solidify this point.

The signing of this agreement between the two nations has also helped extend the 2020 Memorandum of Understanding between the two countries, which had their primary focus set on Strategic Civil Nuclear Cooperation. Bulgaria has long been wanting to get equipped with a powerhouse nuclear arsenal, and this agreement is set to help do just that, alongside having a healthy relationship with the United States. As the plans for the construction are undertaken, a special group will be formed to aid the Bulgarian government in designing, setting up rules and policies, and constructing the reactors at the nuclear power plant. 1,000 megawatts of capacity is set be the threshold of the reactors, as this will signify Bulgaria’s energy capabilities for the long run.

The expenditure on getting these units built is envisaged to cross the billion mark, as 14 billion euros is set to be the number until a final report gets released by Westinghouse, the company in close touch with helping Bulgaria with the project. The Bulgarian Energy Minister Rumen Radev, has talked about the cost of the electricity would be limited to 65 euros per megawatt-hour, produced by Units VII and VIII of the Kozloduy NPP.

Bulgaria has envisioned the progression of the two new units as a new era milestone in the nuclear independence mindset of the country, as per Radev. The project is set to be financed majority through loans and grants, while the state would cover at least 25% of the cost. Full confidence and assurance have been provided by the ministry in seeing a successful completion, along with having a potential drop in the cost of the project, as time goes by, thereby creating an opportunity for lessening debts.

The US Assistant Secretary Andrew Light has also talked greatly about this agreement, as the US is now all for strengthening its ally Bulgaria’s nuclear arsenal and helping the country achieve more independence in the energy sector. The secretary has also mentioned how this deal would help Bulgaria meet necessary energy demands, equip itself with resources needed during crises of all kinds, and help the public harbor confidence in the government's ability to fetch energy requirements from within the nation.

Nuclear Cooperation, including strategic civil coordination, and transparency within the energy sector has been the crucial motive of countries globally, due to the statistics of the nuclear arsenal of some countries showing a drastic increase, and a precise fear of their handling in situations. The United States being the largest producer and harbourer of nuclear weapons, has made efforts to join a coalition supporting civil nuclear cooperation, and transparency, and singing this pact with Bulgaria is set to help create a global trust within the energy sector as a whole.

Source Credit:
The Official Website of the U.S. Embassy

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