The General Assembly of Slovenské Elektrárne (SE) shareholders held in March 2017 has approved SE's strategic plan for 2017-2021. This plan notably includes the release of funds (€5.4bn) for the Mochovce nuclear power plant (NPP) expansion. The Slovak government has already agreed to the cost increase on condition that private shareholders secure the additional €800m required for the project.
Slovakia has 4 nuclear operating units, of which 2 are located in Mochovce and 2 in Bohunice. SE is currently building two 471 MW reactors at its Mochovce nuclear power plant, units 3 and 4. At the beginning of March 2017, unit-3 was 94.7% complete and unit-4 82.8% complete. The construction started in 1986, stopped and resumed again in 2008. The initial commissioning schedule has been delayed by 6 years until the end of 2018 and the end of 2019, respectively. The expansion cost accounts now the double of the first estimates. The new Mochovce reactors are expected to meet about 13% of the Slovak total power demand.
The Slovak government owns a 34% interest in SE and the other shareholder is a joint venture between Enel and the Czech energy group EPH. Enel held previously a 66% stake in SE sold half of it to EPH in 2016 and plans to sell its remaining equity after the commissioning of the two Mochovce units. Enel acquired the 66% interest back in 2006 and committed to completing the 2 units within the frame of the transaction but in 2014, the company started a divestment plan regarding its assets in Romania and Slovakia in order to reduce its debt.
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