The Brazilian power utility Eletrobras still plans to invest BRL5.3bn (US$933m) in 2020 despite the coronavirus outbreak. However, quarantine and lockdown measures could lead to delays, mainly with regards to environmental licensing.
In April 2020, Eletrobras released its Business and Management Master Plan 2020-2024. The Brazilian state-owned power utility plans to invest BRL32.4bn (US$6.2bn) over the period 2020-2024. Around 65% of this amount will be invested in power generation, including BRL13.9bn (US$2.7bn) in the Angra 3 nuclear power project (nearly 43% of total investments). In addition, Eletrobras will invest BRL9.4bn (US$1.8bn) in electricity transmission, and BRL1.8bn (US$346m) in infrastructure and environmental works.
In October 2019, Brazil 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. The preferred partner will have to invest in the completion of Angra III, which requires BRL15bn (US$3.7bn). Eletrobras subsdiary Electronuclear obtained a BRL10bn (US$2.5bn) loan from Brazilian development bank BNDES to develop Angra III. BRL8bn (over US$1.5bn) has already been invested 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.