Angra 3 restart wins $6.1 billion

10 January 2011

The board of Brazil's Banco Nacional de Desenvolvimento Economico e Social (BNDES) approved financing of $ 6.1 billion to build Eletrobras Eletronuclear Angra 3, to be amortized over 20 years with 5 more grace. The plant, which is part of the Growth Acceleration Program (PAC), would have an installed capacity of 1,405 megawatts (MW), which will supply energy equivalent to one third of the consumption of Rio de Janeiro.

Considering the costs incurred, this funding represents 58.6% of total project investment, which will create nine thousand direct jobs during the construction phase and 500 when the plant begins operating. Eletrobras will finance U.S. $ 890 million with funds from a surcharge on electricity ratepayers and EUR 1.6 billion ($2.06 billion) will be raised in foreign markets. Eletronuclear is now awaiting government approval to acquire long-term credit.

In January, the government approved plans for nuclear power plant construction equipment to be exempted from excise tax and import duty for projects approved by December 2012. With Renuclear, Eletrobras Eletronuclear hopes to reduce by approximately $ 700 million cost of its construction.

The construction of Angra 3 plant began in 1984, but halted in 1986. In 2007 the National Energy Policy - CNPE authorized the resumption of the works. With regard to environmental permits, were issued by IBAMA Permits Prior and Installation in July 2008 and March 2009 respectively. In May 2010, the National Nuclear Energy Commission granted the Power Plant Construction License, authorizing the start of the concrete slab of the reactor building. Forecasting the start of commercial operation: December 2015.

Among the equipment already purchased and maintained for the past 24 years under strict preservation scheme in warehouses on the site itself and the plant's premises Nuclep are large components of the "nuclear island", such as reactor vessel, generators steam, pressurizer, main pump cooling, media components of the primary circuit and the main components of so-called secondary circuit, such as turbines, high and low pressure pumps and electric generator main feedwater and condensate.




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