SOFIA — Hyundai Engineering and Construction Co. has been designated as the preferred bidder for a significant nuclear plant project in Bulgaria, aiming to initiate power generation by 2035. This announcement follows a decision approved by the Bulgarian parliament, positioning Hyundai to potentially expand the Kozloduy Nuclear Power Plant with two new reactors.
According to Yonhap News Agency, these reactors, each with a capacity of 2,200 megawatts, will be constructed in Kozloduy, approximately 200 kilometers north of Sofia. The final decision on the project, valued at US$14 billion, is expected in April after negotiations conclude with Kozloduy NPP New Builds PLC.
The Kozloduy Nuclear Power Plant, operational since 1969, plays a pivotal role in Bulgaria’s energy sector, contributing to a third of the country’s power generation. While the plant originally had six reactors, four have since been retired, leaving two currently in operation. Hyundai’s proposal to add two more reactors aims to bolster Bulgaria’s power generation capacity significantly by 2035.
This project marks a significant milestone for Hyundai Engineering and Construction, as it is the first time since 2009 that the company has been named a preferred bidder for a major overseas nuclear plant project. That year, Hyundai’s consortium was awarded a contract to construct four nuclear reactors in Barakah, 270 kilometers west of Abu Dhabi.
In addition to its involvement in the Bulgarian project, Hyundai has also recently entered into an agreement with U.S.-based Holtec International to develop a small modular reactor, indicating the company’s ongoing commitment to expanding its presence in the global nuclear power market.