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Bulgaria Signs Deal With Westinghouse on Nuclear Power Plant
By SEAN CARNEY CONNECT
Aug. 1, 2014 6:52 a.m. ET
An American nuclear engineering company and Bulgaria Friday reached a long-sought deal paving the way for the European Union state to diversify its energy generation and nuclear fuel sources away from Russian to Western technologies while meeting the EU's strict carbon-emission reduction targets.

Pennsylvania-based Westinghouse Electric Co. Ltd. said after seven months of negotiations it signed an agreement with Bulgaria's state-owned nuclear power plant operator Kozloduy Nuclear Power Plant PLC giving the American company a 30% stake in a project company that aims to build a new 1,000 megawatt reactor worth over $5 billion.

Westinghouse will provide all of the plant equipment, design, engineering and fuel.


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