Brazil’s government is struggling to attract investors to restart construction on its Angra 3 nuclear plant, where work has been halted since 2015…The government continues to talk to potential investors, including Russian and Chinese companies, but remains far from a dea.
State-controlled Centrais Eletricas Brasileiras SA is building what would be Brazil’s third nuclear plant. Through its Eletronuclear unit, Eletrobras has already invested 5 billion reais ($1.56 billion) in the facility, which is two-thirds complete, and has contracted equipment from foreign and domestic suppliers. The company now needs 13 billion reais to finish the project, and the proposed price of electricity produced would need to increase, according to the sources….Eletronuclear said a new business plan for Angra 3 should be ready by June 2019, with an aim to complete the plant by 2025…Construction of Angra 3 halted in 2015 amid a financial crisis at Eletrobras and allegations of corruption in handing out contracts for the project. Work on the project had started in the 1980s but quickly stalled due to lack of resources before resuming in 2009.
Excerpts fromLuciano Costa, Rodrigo Viga Gaier, Brazil Struggles to Find Investors in on-again, off-again Nuclear Project, Reuters, Jan. 12, 2019