Westinghouse and Bulgaria Agree to Continue Kozloduy Discussions

SOFIA, April 2, 2015 – Westinghouse Electric Company announced that while the Share Holder Agreement for Kozloduy Unit 7 had expired discussions are continuing on a new structure and timeline.


“This decision was made jointly by all parties with current conditions in Bulgaria to support an infrastructure project of this size,” said Danny Roderick, Westinghouse president and CEO. “While there is unanimity that the project is clearly attractive in the long-term, the parties believe that different models will need to be considered for deploying the AP1000® technology in the future.”  


“Westinghouse is pleased with the cooperation it has developed with KNPP and in the near term is focused on the immediate and quantifiable improvements of Bulgaria's nuclear generating capacities through the introduction of state-of-the-art Westinghouse technology and global experience.”  


Roderick added: "We continue to provide and offer assistance and global technology to the entire spectrum of the plant operations to KNPP from fuel and services to decommissioning and waste management.”


Eight AP1000 reactors are currently under construction worldwide: two each at the Vogtle and V.C. Summer sites in the U.S. and the Sanmen and Haiyang sites in China. Additionally, a shareholder agreement has been signed for the development of AP1000 plants at the Moorside site in the United Kingdom.


Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first pressurized water reactor in 1957 in Shippingport, Pa., U.S. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including more than 50 percent of those in Europe. AP1000 is a trademark of Westinghouse Electric Company LLC. All rights reserved.