Energy minister Rumen Radev expects the two planned reactors at the Kozloduy nuclear power plant using Westinghouse Electric’s AP1000 technology to cost up to $14 billion (13 billion euro) in total.

Westinghouse Electric Co is expected to come up in March with a report with an indicative price of the reactors, Radev said at the signing of a cooperation agreement in nuclear energy between the U.S. and Bulgaria.

The cooperation agreement covers the construction of nuclear facilities at Kozloduy NPP, as well as the exchange of expertise, technology and research.

Radev added that he expects the project for the two new reactors to result in electricity prices of less than 65 euros per MWh.

Earlier this month, special project company Kozloduy NPP-New Build said five companies expressed interest in constructing two new reactors using Westinghouse Electric’s AP1000 technology at Kozloduy NPP.

In December, the Bulgarian parliament approved a government proposal to inject up to 1.5 billion levs (766.9 million euros) in Kozloduy NPP for the construction of two new reactors.