French and Italian companies听will have integral roles in each other's nuclear future, after听agreements signed today in Rome.
 |
| Renaissance men: French President Nicolas Sarkozy speaks, while Italian prime minister Silvio Berlusconi looks on |
The听27th Franco-Italian summit saw delegations of ministers from both sides meet in at the aptly chosen Villa Madama, which boasts impressive renaissance architecture. After pleasantries and photographs, a new agreement on cooperation in nuclear energy was concluded by the states.
听
An immediate commercial aspect to cooperation was represented by two deals between Electricit茅 de France and Enel. Firstly, the two will form a 50/50 partnership to conduct feasibility studies towards "at least听four EPRs in Italy."听Any Italian EPRs would be built, owned and operated by new companies instituted for the task. Enel would retain a majority stake and EdF's involvement would be expected but further investors would be also be invited.
听
The second deal will see Enel take a 12.5% stake in the new reactor to be constructed at Penly. Enel already has an equivalent stake in Flamanville 3, under construction now, and takes the stake in Penly 3 by exercising a right from a long-term partnership agreed in 2007, which gave both companies the option to take significant stakes in each others new nuclear projects.听Enel still has the right to take 12.5% of the next four EPRs that EdF might build before 2023 and the company has previously said it would establish a training centre for the EPR design.
听
The twin memorandums of understanding were signed by the heads of Enel and EdF, Fulvio Conti and Pierre Gadonneix respectively.
听
The step is among the biggest that Italy has so far taken towards a re-employment of nuclear energy, which was completely phased out following a referendum called as a result of the Chernobyl disaster. This situation was reversed by the听general election of May 2008, when Silvio Berlusconi's Forza Italia party put a return to nuclear energy in its manifesto.
听
Enel's other nuclear听interests
Four days ago, Enel signed off on a €11.1 billion deal to buy 25.01% of Spain's Endesa from previous owner Acciona and and take its share to 92.02%. Enel said that Endesa was to pay several billions in dividends to shareholders, and those transactions among other things would reduce the final figure for the purchase to €9.6 billion.
Endesa has involvement with three nuclear reactors: The company owns 100% of Asc贸 1; 85% of Asc贸 2 and 78% of Vandell贸s 2. All of them are pressurized water reactors producing around 1000 MWe.
Enel also owns 66% of Slovakia's Slovenske Electrarne, which operates four nuclear reactors at Bohunice and Mochovce totalling 1690 MWe. Fuelled by investment from Enel, it recently relaunched work to complete the Mochovce 3 and 4 nuclear power reactors to add a further 840 MWe.
_69614.jpg)
_15447.jpg)
