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The Program to Accelerate the Critical Path of the Project Was Developed with Eletrobras to Ensure the Schedule of the Angra 3 Nuclear Power Plant Works
According to Leonam Guimarães, president of Eletronuclear, the interruption of the works of the Angra 3 Nuclear Power Plant is out of the question. The executive argues that the project has low risk, with predictable long-term production and will have the capacity to attract investors once the business model is defined. FURNAS energizes its first solar power plant out of three being built
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For him, the challenge of constructing Angra 3 is to find a business model that minimizes costs. “The involvement of an international partner is a plus, but not a necessary condition. It is interesting for other business reasons, not purely financial ones. Here, it is important to emphasize that Eletrobras’s participation can bring a benefit by reducing the perception of risks for other partners,” Guimarães adds.
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The inter-ministerial committee of BNDES has already drafted the business model but still depends on approval from the Investment Partnerships Program Council (CPPI). According to him, this approval was scheduled for March but was postponed due to the impact of the coronavirus.
According to Guimarães, the projected investment to complete the Angra 3 Nuclear Power Plant is BRL 14.5 billion, and the next phase of construction is supported by a “critical path acceleration program,” developed between Eletronuclear and Eletrobras, which foresees the start of financial contributions from Eletrobras itself in the second half of this year.
Even with the pandemic, the executive believes that Angra 3 has a margin to start commercial operation, at the latest, in the first months of 2027.
The Perspective of the President of Eletronuclear, Leonam Guimarães
On the Completion of the Angra 3 Plant
The master plan of Eletrobras includes participation with investments for the completion of the Angra 3 Plant work. This is important to meet the schedule and start operations by the end of 2026.
To ensure that this schedule is respected, the critical path acceleration program was developed with Eletrobras, with the possibility for Eletrobras to make short-term investments.
On Investor Interest in Angra 3
Angra 3 is a low-risk project. It is already quite advanced, with a well-ongoing licensing process, and there is reasonable certainty that Angra 3’s performance will be at least equivalent to that of Angra 2, which has been excellent, with a capacity factor of 90% for years. There is no reason it should 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 that is of great interest to long-term investors who need revenue for extended periods, which is typically the case for pension funds.
Having a financial structure and resuming construction, the risk perception of these potential investors will be reduced, and interested parties will emerge, even if they invest during the operation period.
On Nuclear Power Plant Projects After Angra 3
Some say that the installation of nuclear power plants in the Northeast will further pressure the water supply in the region, where urban demand already competes with rural demand, the executive stated.
In terms of water resource management, nuclear energy could make a significant contribution. It can compensate for unfavorable hydrological regimes. More than that, there is no water shortage in the Northeast. There are brackish water reserves that are currently unsuitable for human consumption. With greater energy availability, desalination can be promoted.
The National Energy Plan 2030 anticipated expansion in the Northeast and Southeast. The topic in the Northeast has come back into focus because in Pernambuco they embraced the idea.
But if prioritization is necessary, I would dare to say that the Southeast should take precedence. However, 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
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