Today at 11:00 CET is the deadline for tender in NPP Belene. Bulgaria searches for strategic investor for its new nuclear power plant in Belene. Projected installed capacity is 2,000MW and the transaction should be worth EUR 4bn. Bulgaria plans to keep 51% share in the mentioned project. CEZ is one of the seven companies who expressed their interest.
Based on fact that CEZ already owns TPP in Varna and 3 distribution companies there, it make sense for CEZ to further penetrate Bulgarian market and achieve some synergies. We see this news as trading neutral for today.