The National Electricity Company (NEC) signed on Wednesday, June 4, the final deal with France ’s BNP Paribas for leading and structuring bank in the EUR 4bn project for construction of a 2,000MW nuclear plant in the Danube town of Belene , a note on the website of NEC informs. In April, the energy ministry announced that BNP Paribas won the competition for structuring bank against another French contender, Societe Generale. According to earlier revealed information, NEC has encountered problems in the negotiations with  BNP Paribas due to the condition set by the bank to receive a service fee even in case that no financing is arranged for the project. The final wording of the disputed clause is not unveiled yet. The bank has separately sealed a deal for syndicating a five-year EUR 250mn bridge loan for engineering, equipment supply and construction works during the first year of the project.

NEC is expected to select a strategic investor for 49% of the company set to administer construction works and operate the nuclear plant in Belene by the end of July. Germany ’s energy company RWE Power is reportedly leading the race for the stake against the other shortlisted candidate Belgium ’s Electrabel. The two bidders should present final offers by Jun 24. The state will retain 51% of the shareholders’ capital.  Russia ’s AtomStroyExport has already signed the contract to supply and install the two power reactors of the plant. The first unit of the nuclear plant is expected to start operations in early 2014 and the second one in 2015.