US company GE Vernova eyes energy projects in Bulgaria

US energy equipment manufacturer GE Vernova has “interest and vision for an expanded presence in the Bulgarian market.” This became clear after a meeting between Energy Minister Zhecho Stankov and company representatives in Washington.

Chief Corporate Officer Roger Martella and Managing Director George A. Picart said they were interested in participating in future projects to modernize Bulgaria's energy systems.

Stankov, for his part, emphasized Bulgaria's commitment to secure, independent, and low-carbon energy.

This lays the foundation for new prospects, including the construction of small modular reactors and innovative infrastructure,” he said, as quoted by the press center of the Ministry of Energy.

During his visit to the US, where he is leading a delegation in an effort to deepen the strategic partnership between the two countries, the minister met with business representatives, investors, and officials at round tables organized by the Rare Earth Materials Association (PRISM) and the American Liquefied Natural Gas Association.

Stankov held talks with Dan Negrea, senior advisor at the US Export-Import Bank (EXIM), presenting the government's long-term vision based on the development of nuclear energy and the sustainable transformation of the sector, emphasizing the importance of reliable partnerships, both financial and technological.

During the meeting, the banking institution's readiness to provide funding for the construction of Units 7 and 8 of the Kozloduy NPP was discussed.

Two days ago, also during the visit to the US, an agreement was signed between the American bank Citi and the project company Kozloduy NPP – New Builds EAD. The role of the financial institution is to act as the sole coordinator and organizer of the export credit.

Translated with DeepL.