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Belarus does not plan to establish joint company with Russia that would sell electricity produced by future nuclear power plant

Belarus does not plan to establish a joint company with Russia that would sell electricity produced by the nuclear power plant to be built in Belarus, First Deputy Prime Minister Uladzimir Syamashka told reporters in Minsk on Wednesday, as quoted by BelaPAN.

News agencies reported last week that Moscow had refused to sign an agreement on the nuclear power plant project until a joint company was established.

Moscow reportedly wanted Russia’s Inter RAO UES to hold no less than 50 percent in the joint company and thereby receive at least 50 percent of the sales proceeds if the construction of the two-reactor plant is financed with a Russian loan.

Mr. Syamashka confirmed the reports but said that Belarus’ plans did not include the establishment of a joint company to sell electricity produced by the plant.

According to Mr. Syamashka, Belarus expects to sign the necessary documents with Russia for the nuclear power plant project no later than the end of September. “All documents have been drawn up, but there are some points that still need to be agreed upon,” he said. “Russia is unwilling to sign the package of agreements because there are unsettled issues. They are not complicated and I think we may sign the documents in August or September.”

The Belarusian government wants the nuclear power plant to be built in the Hrodna region near the Lithuanian border. The 2,400MW plant is projected to account for 27 to 30 percent of the total domestic electricity output. One of the plant’s two reactors was expected to be put into operation in 2016 and the other in 2018.