Westinghouse and Bulgarian Energy Holding EAD Sign Agreement on Nuclear Collaboration

June 13, 2011

PITTSBURGH, June 13, 2011 /PRNewswire/ — Westinghouse today announced that it has signed a Memorandum of Understanding (MOU) with Bulgarian Energy Holding EAD (BEH) under which the companies will discuss cooperation on a range of nuclear energy projects at the Kozloduy site in Bulgaria. These projects include support of the current operating plants in the areas of life extension and instrumentation and control, as well as decommissioning and dismantling of the four non-operational units on site. The scope of the agreement also covers more general considerations of various stages of the nuclear fuel cycle and proposed new build in the region.

Upon signing the agreement in Sofia, Bulgaria, Anders Jackson, Westinghouse President for the Europe, Middle East and Africa Region, expressed his satisfaction with the collaboration between the companies.

“Westinghouse actively participated in the modernization project of Kozloduy Units 5 & 6, and we are pleased to strengthen our relationship with such an important member of the international nuclear community,” Mr. Jackson said. “Both Bulgarian Energy Holding EAD and Westinghouse recognize that there are a number of areas where we share common interests and can mutually benefit from this agreement. Establishing this MOU is the first step along that path, and we are looking forward to the journey.”

Bulgaria has an established nuclear program dating back 35 years and nuclear energy accounts for a third of the nation’s electricity generation.

BEH CEO, Jordan Georgiev, stated: “With the signing of this Memorandum we lay down the basis for a partnership in the development of the technical potential for nuclear safety. The nuclear security and safety is a leading priority for Bulgaria. We will work on exploring the possibilities for cooperation in the fields of diversification of the sources of nuclear fuel supply, treatment and management of radioactive waste and spent nuclear fuel. Our joint collaboration with a company of the scale of Westinghouse will contribute to obtain an objective assessment of the possibilities for life extension of units 5 and 6 of the Kozloduy NPP, as well as assessment in view of achievement of a sound process of decommissioning of the first four units of the plant already shut down. We unite our efforts at corporate level in order to maintain the high level of nuclear safety and environmental protection.”

Notes for Editors:

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. Today, Westinghouse technology is the basis for approximately one-half of the world’s operating nuclear plants.

Bulgarian Energy Holding EAD is 100% state owned company. It manages the assets of companies engaged in power generation, transmission and wholesale supply, natural gas transmission, storage and wholesale supply, mining and telecommunications. The Holding is one of the largest energy companies in the region and national energy leader in the fields of electricity and gas, with assets for 2009 amounting to BGN 11.8 billion, group total revenue for 2009 amount to BGN 4.8 billion, the number of employees sums up at some 22 thousand people.

SOURCE Westinghouse Electric Company

Source: newswire

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