Enel and EdF close to reaching technology deal

16 March 2005

Electricité de France (EdF) and Italy's Enel are reportedly close to concluding negotiations that will see Enel taking a possible 25% stake in the new European Pressurized Water Reactor (EPR) development at Flamanville.

The agreement, that will see Enel partly finance and develop the so-called Generation III reactor, may also see the group take a stake in SNET, France's third-largest power generator. Enel is expected to pay around €750 million for its quarter share in the EPR. "We are in talks regarding the nuclear reactor and Enel is interested in a stake, although the figures cannot be confirmed yet," an Enel official is quoted as saying.

Progress in the talks to resolve market opening issues within the French energy market follow recently reported comments from Piero Gnudi, Enel chairman, who apparently told a parliamentary select committee that Italy should reconsider its 1987 ban on nuclear power. Gnudi made the comments referring to Enel’s recent purchase of a majority stake in Slovak generator Slovenske Elektrarne.

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