A program to accelerate the project's critical path was developed with Eletrobras, in order to guarantee the work schedule for the Angra 3 nuclear power plant

According to Leonam Guimarães, president of Eletronuclear, the interruption of work on the Angra 3 nuclear power plant is out of the question. The executive argues that the project is low risk, with long-term production predictability and that it will be able to attract investors once the business model is defined. FURNAS energizes its first solar plant of the three being built

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For him, the challenge to build Angra 3 is to seek a business model that minimizes costs. “The participation of an international partner is a plus, but not a necessary condition. It is interesting for business reasons other than strictly financial reasons. Here it is important to emphasize that Eletrobras' participation can bring a benefit of reducing the risk perception for other partners”, adds Guimarães

The BNDS interministerial committee has already prepared the business model, but it still depends on the approval by the Board of the Investment Partnerships Program (CPPI). According to him, this approval was scheduled for March, but was postponed due to the impact of the coronavirus.

According to Guimarães, the planned investment to complete the Angra 3 nuclear power plant is 14,5 billion reais and the next phase of construction is supported by a "program to accelerate the critical path of the enterprise", developed between Eletronuclear and Eletrobras and which foresees the start of financial contributions by Eletrobras itself in the second half of this year.

Even with the pandemic, for the executive, the Angra 3 plant has room to enter into commercial operation, as a last resort, in the first months of 2027.

The point of view of the president of Eletronuclear, Leonam Guimarães
on completion of the Angra 3 power plant

Eletrobras' master plan foresees the participation with investments for the conclusion of the works of Usina Angra 3. This is important to comply with the schedule and start operating at the end of 2026.

To ensure that this schedule is respected, a program was developed with Eletrobras to accelerate the project's critical path, with the possibility for Eletrobras to make investments in the short term.

About the interest of investors in Angra 3

Angra 3 is a low risk project. It is already quite advanced, with the licensing process well underway, there is a reasonable certainty that the performance of Angra 3 will be, at least, equivalent to the performance of Angra 2, which has been excellent, with a capacity factor of 90% for years. It doesn't have to be different.

The second aspect is that it is an asset that will generate energy for at least 60 years of useful life. It is the type of asset of great interest to long-term investors who need income over a long period, which is typically the case with pension funds.

Having a financial structure and resuming work, the risk perception of these potential investors will be reduced and interested agents will appear, even if they invest already in the operation period.

About nuclear power plant projects after Angra 3

There are those who say that the installation of nuclear power plants in the Northeast will put even more pressure on the water supply in the region, where urban demand already competes with rural demand, said the executive.

In terms of water resources management, nuclear energy would make an important contribution. It can compensate for unfavorable water regimes. More than that, there is no shortage of water in the Northeast. There are brackish water sheets that today are unfit for human consumption. Having more energy available, you can promote desalination.

The 2030 National Energy Plan provided for expansion in the Northeast and Southeast. The theme in the Northeast returned to the agenda because in Pernambuco they embraced the idea.

But if you have to prioritize, I would venture to say that the Southeast would have priority. But in the Northeast there is a portion of political forces that see nuclear energy as a lever for economic development, concludes Leonam Guimarães

by – epbr