The new center-right government, which took office last week, has said it needs to revise its commitments on major energy projects, as they could worsen the budget situation in the country, hit by the global economic crisis and falling revenues.
Traicho Traikov, who took the post after the center-right GERB party won July elections, said the European Union member state needs to reassess the building of a new 2,000-megawatt plant, estimated to cost over 6 billion euros ($8.55 billion).
Sofia, which owns a 51 percent stake in the project, has contracted Atomstroiexport to build two 1,000-megawatt units. German utility RWE keeps the remaining 49 percent in Belene. The financing has not been structured.
Traikov said he and Prime Minister Boiko Borisov would meet with RWE officials later this week and discuss how to proceed with the Belene project.
The new government has said Bulgaria cannot afford to take loans, at a time of tight global liquidity and economic downturn, to fund its majority stake when it is under pressure to cut public spending and avoid slipping into deficit.
The crisis, however, will not force Bulgaria to reconsider its participation in the South Stream project, due to bypass transit country Ukraine and deliver gas to southeastern Europe under the Black Sea, for now.
Bulgaria has signed a broader agreement with Russia over South Stream but has yet to overcome some disagreements about the route and the ownership of the new pipeline on its territory.
