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Wilson Ferreira Jr, president of Eletrobras, reported that the company has at least 1 billion reais reserved for investment in the Angra 3 Nuclear Power Plant project, still this year in 2020.
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The construction of the Plant, halted since 2015, seems to be moving forward again. The president stated that the idea is to choose an international partner for the resumption and completion of the works by the end of the year. He also mentioned that the expectation is for its completion by 2026.
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Wilson stated that for the entire year, Eletrobras’ investment amounts to R$ 5.3 billion. Besides the Angra 3 Plant, the other R$ 1.8 billion will be allocated to the generation area. The transmission area will receive investments exceeding R$ 2 billion.
When asked about the coronavirus and its impacts on the global economy and especially Brazil, the president said that, initially, the company should not change its investment plan. He informed that the next three months will be the worst moments, generating uncertainty, but it is a short period to make the company alter its investment route.
In a videoconference with XP Investimentos, Ferreira Jr said: “Of course we are careful with the cash flow, but these volumes were already planned, and we have several projects underway. The challenge I have been feeling is the difficulty we have in accessing the cities due to the closures. But I can say that all contracted works are ongoing.”
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