Finally, Angra 3 Nuclear Power Plant Construction Begins in October 2021

Eletrobras Keeps Plans to Start Construction in October Next Year, So That the Plant Starts Operating in 2026

The structuring of financing for the construction of the Angra 3 nuclear plant, in Angra dos Reis – RJ, is expected to advance in early 2021, said Eletrobras President Wilson Ferreira Júnior last Thursday (08/13) during a press conference to detail the company’s second-quarter results.

Eletrobras keeps plans to start the concreting and assembly works in October next year, so that the plant starts operating in 2026.

According to the executive, the Angra 3 works will follow two fronts. Initially, Eletrobras will implement a “critical path acceleration plan” to prepare Angra 3 to accommodate the “epecista” — the company that will finalize the construction of the project under an EPC (Engineering, Procurement and Construction) contract.

The expectation is to publish the EPC tender in August 2021, with the epecista’s work starting in March 2022. “The bidding for an epecista is the best solution, with the highest return for shareholders,” Ferreira Júnior stated.

For this phase of preparing the ground for construction, Eletronuclear received an advance of R$ 2.5 billion to resume construction of the Angra 3 nuclear plant in 2021.

According to this planning, the Angra 3 works are expected to receive a significant portion of investments. By 2024, the plant will receive resources totaling R$ 14 billion.

Check the Progress of the Nuclear Plant Works

• Angra 3 Nuclear Plant Does Not Need International Financial Support to Be Built, Says Eletronuclear President
• Government Authorizes Resumption of Construction Works for Angra 3 Nuclear Plant in Rio de Janeiro
• Angra 1 and 2 May Stop Due to Lack of Fuel, Generating a Cost of R$ 1.4 Billion on the Electricity Bill

In the interview, Wilson Ferreira Júnior also stated that Eletronuclear will be controlled by a new state-owned company to be created by the government if Eletrobras is capitalized. Currently, the nuclear company is 100% controlled by Eletrobras. According to him, the expectation is that private initiative can enter the remaining capital of the nuclear energy company.

Last month, the Ministry of Mines and Energy (MME) requested an additional R$ 4 billion in the 2021 Budget from the Ministry of Economy for the creation of this new state-owned company, which would be responsible for managing Brazil’s participation in Itaipu Binacional, Eletronuclear, and government programs for the electricity sector in case Eletrobras is privatized.

When asked about the financing possibilities for Angra 3, he stated that the project is 70% executed and that it is a “simple project to finance.”