Business news

OSTROVETS, 12 October (BelTA) – The Belarusian nuclear power plant is supposed to recoup investment in 15 years. There are plans to reduce electricity rates by 15-20% after the nuclear power plant goes online, BelTA learned from Yevgeny Chervyakov, Deputy Director General of the state enterprise Belarusian Nuclear Power Plant, on 12 October.

Yevgeny Chervyakov said that in line with the project’s business plan the payback period is 15 years. “We expect it will be like that in the end,” said the executive. He also mentioned plans to reduce prices for electricity by 15-20% after the Belarusian nuclear power plant goes online.

Vasily Polyukhovich, Director of the Nuclear Energy Department of the Belarusian Energy Ministry, pointed out that after the nuclear power plant goes online, the country will be able to reduce the import of natural gas by 5 billion m3 per annum. At present 95% of electricity in Belarus is generated by burning Russian natural gas. Dependence on one supplier can affect the reliability of power supply, noted Vasily Polyukhovich. Besides, the development of the nuclear energy industry will allow reducing greenhouse gas emissions in accordance with Belarus’ commitments under the Paris Climate Agreement. The Energy Ministry also expects highly qualified personnel to be trained for the nuclear energy industry and allied trades in the course of the nuclear project’s implementation.

The Belarusian nuclear power plant is built using the Russian standard Generation III+ design AES-2006 near Ostrovets, Grodno Oblast. The first power-generating unit is scheduled for commissioning in 2019, with the second one to go online in 2020.