BRASILIA (Reuters) – The discussion on costs for the completion of the Angra 3 nuclear plant after more than 40 years from the beginning of the works opened divergences between areas of the Luiz Inácio Lula da Silva government, with the economic team advocating internally that the venture is abandoned , two sources said with knowledge of the subject.
The verdict on the conclusion of the works passes by the National Council of Energy Policy (CNPE), which postponed the decision last year and gathers on Tuesday with the theme on the agenda, but the discussion can be postponed again.
“Big fight. The strength not to do is that it has no money. Who will reduce the budget to allow the contribution? Where does the money come from? ”Said one of the sources of the economic team, at a time when the government is already struggling to put in the Union budget spending that had not been initially considered for this year.
Study of the National Bank for Economic and Social Development (BNDES) estimated that the completion of the plant would require $ 23 billion in investments, in addition to the $ 12 billion already applied so far. It would take another five years of works, in addition to the bidding deadlines, according to Eletronuclear, responsible for the plant.
On the other hand, according to BNDES, a decision to abandon the work would cost $ 21 billion, including contract termination expenses, site demobilization, tax benefits and penalties for canceling encouraged financing.
A second source from the economic team said the Ministry of Finance has outlined alternative scenarios, with the cost of construction and could reach $ 30 billion. For this authority, the value of energy generation with the eventual conclusion of the work would also be high and could weigh on the light bill.
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“It can make sense from the point of view of energy policy, but from the point of view of economic and financial policy, we cannot justify,” he said.
Emphasis added to the completion of the plant, Eletronuclear President Raul Lycurgo Leite told Reuters that the cost of generation, estimated at $ 653 by Megawatt-hour, should be valued compared to other thermal plants, which have compatible values.
After stating that Eletronuclear plans to go to the market to capture most of the cost of completion of the work, minimizing the weight for the National Treasury, Leite also argued that the nuclear plant is strategic because it is sustainable and having potential for continuous generation, unlike the models such as wind and solar plants.
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“Without a doubt, I advocate the finishing … The worst infrastructure project is the project stopped,” he said, noting that the cost of maintenance of Angra 3’s paralyzed work exceeds $ 1 billion per year.
Also advocating for the venture, Minister of Mines and Energy, Alexandre Silveira, said in November last year at the launch of the Decenate Energy Expansion Plan, which we “have to finish” the construction of what he called Angra 3 “mausoleum” 3 .
Started in the 1980s, Angra 3’s work was paralyzed on more than one occasion for lack of resources, as well as an interruption in 2015 on corruption suspected in Operation Lava Jato. In 2022, a new attempt to resume failed and the contract with the construction consortium was terminated.
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The discussion about the work has as its background divergences between government and Eletrobras (;), which has participation in the plant. The Union questions in action in the Federal Supreme Court the weight it has in the voting of the Eletrobras Council after its privatization in 2022. Eletrobras linked the agreement on participation to an Angra 3 decision.
In an attempted agreement to end the dispute, Eletrobras proposed to leave its shareholding in Eletronuclear, and release itself from an agreement in which it pledged to be part of the investments for the conclusion of Angra 3, according to the relevant fact released by the company in December.
However, there is no solution to the impasse so far, and the Supreme Court has not yet made a final decision on the subject, which expands uncertainties about Angra 3.
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“Regrettably I think this (CNPE) meeting will be delayed again,” said Deputy Julio Lopes (PP-RJ), president of the mixed parliamentary front of technology and nuclear activities, pointing out that until the government increases its participation in the board From Eletrobras, the impasse is likely to continue.
Sought, the Ministries of Finance and Planning reported that they will not comment. The Civil House and the Ministry of Mines and Energy did not respond.
Eletrobras said it maintains the position presented in the relevant fact of December. The Brazilian Company of Participations in Nuclear and Binational Energy (ENBPAR), a public company that controls Eletronuclear, said that the completion of the work is “important for Brazil’s energy security and the process of energy transition.”
