30 Nov (NucNet): The Enel Group of Italy has signed a formal cooperation agreement with Electricite de France (EDF) that will allow it to take a 12.5 percent stake in the Flamanville-3 European pressurised water reactor (EPR) being built in Normandy.
The agreement also gives Enel the option of taking part with an identical 12.5 percent stake in up to five more EPR projects in France.
The companies said today’s agreement follows a cooperation agreement signed in May 2005, which made provision for Enel to join France’s third generation nuclear programme.
Enel engineers will be allowed to join EDF’s teams working on the Flamanville unit, with a view to regaining expertise in the nuclear energy sector.
EDF gave the go-ahead for construction of the Flamanville EPR unit in May 2006, saying it expected to complete the unit by 2012 at a total cost of around 3.9 billion euro (5.7 billion US dollars).
Once the first EPR plant is completed in France with the participation of Enel, the Italian group will give EDF access to Enel’s nuclear generating capacity in Europe or, if not available, to capacity with similar characteristics.
Enel may also take a 30-40 percent stake in EDF’s new gas-fired combined-cycle power plants being built in France.
The agreement was signed this morning at the Italian and French government summit in Nice, in the presence of French president Nicolas Sarkozy and Italian prime minister Romano Prodi.
Enel chief executive officer and general manager Fulvio Conti said the deal will contribute to the development of a more open, competitive European energy market. “For Enel, this (deal) means access to the most advanced nuclear technology available today and laying the foundations for establishing a significant presence in France.”
The agreement also gives Enel immediate access to virtual baseload generating capacity. In advance of having access to the generating capacity of Flamanville-3, Enel will gain access to 600 megawatts electric (MWe) starting in 2008, with progressive increases up to a total of 1,200 MWe in 2012.
Starting in 2012, this capacity will be progressively be replaced by electricity generated from new EPRs as they gradually enter service in France. This power will mainly be sold by Enel to final customers in France.
