EdF, Enel part company
Italian power company Enel is to terminate its participation in EdF’s French EPR projects including its 12.5% stake in Flamanville 3, citing economic considerations and Italian policy on nuclear energy as reasons behind its decision.
As well as withdrawing from participation in Flamanville 3, Enel is also relinquishing its rights to a similar level of interest in five future French EPRs. The termination of the agreement also cancels the supply of electricity by EdF to Enel under so-called anticipated capacity contracts which should have seen Enel supplied with 1200 MWe from 2012. These will be phased out gradually over the next two years. Knowledge transfer agreements between EdF and Enel are also terminated.
Despite Italy’s 2011 decision not to pursue new nuclear, Enel remains active internationally in nuclear projects. It has interests in Slovakia’s Slovenske Electrarne and Endesa of Spain, which has equity in most of Spain’s nuclear reactors. It has also been seen as a likely potential investor in Russia’s Baltic nuclear power plant at Kaliningrad after a 2010 agreement signed with Russian company Inter RAO UES.
Despite its decision to withdraw from the EPR projects, Enel said it intended to continue to operate in the French market through its presence in renewables, gas and power trading activities.
Source: World Nuclear News