Brazil has shortlisted China’s National Nuclear Corporation (CNNC), EDF (France) and Rosatom (Russia) as potential partner to complete its 1,245 MW Angra III nuclear plant project. Brazil’s Electronuclear, its national nuclear company, will determine by the end of 2019 the form of partnership to establish with the selected company, either by creating a joint venture or by opening its capital to a minority shareholder.
The preferred partner will have to invest in the completion of Angra III, which requires BRL15bn (US$3.7bn). Electronuclear obtained a BRL10bn (US$2.5bn) loan from Brazilian development bank BNDES to develop Angra III. BRL8 (US$2bn) has already been spent as Electronuclear and its previous partners, which included Areva (now subsidiary of EDF), have built 70% of the plant and bought 80% of the nuclear reactor equipment. The plant is now expected to be commissioned in 2026.
The construction of Angra III started in the 1980s but halted owing to a lack of resources. The project was relaunched in 2010, but construction paused again after a corruption scandal. Eletronuclear is a subsidiary of state-owned power utility Eletrobras (51% public), which the government plans to totally privatize, although its nuclear power unit will stay under state control.
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