The planned extension of the lifespan of the 1,000 MW units 5 and 6 of Bulgaria's sole nuclear power plant (NPP) Kozloduy will cost 270 million euro ($528.5 million), the country's energy ministry said on Thursday.

Of the amount, 190 million levs have been spent on the project so far, energy minister Temenuzhka Petkova was quoted as saying in a press release.

Units 5 and 6 have licences to operate until 2017 and 2019, respectively.

If needed, Bulgaria may seekexternal financing to cover the remainder, Petkova added.

In the same press release the energy ministry quoted the NPP's head, Dimitar Angelov, as saying that the project is running according to schedule.

The Kozloduy NPP remained with two operational reactors of 1,000 MW each after the country closed down four units of 440 MW each to address nuclear safety concerns of the European Union prior to its accession to the bloc. Bulgaria joined the EU in 2007.

In April 2012, the government in Sofia decided to add another 1,000 MW unit to the plant, a project that is currently taking shape. US-based Westinghouse, controlled by Japan's Toshiba Group, said in August last year it signed a shareholder agreement following consultations with all Bulgarian political parties for the construction of a new unit at the NPP. The AP1000 reactor is projected to be online by 2023.

Kozloduy is a subsidiary of the state-owned Bulgarian Energy Holding.

Source: SeeNews