EDF, Enel launch Italian nuclear joint venture
France’s EDF and Italy’s Enel have sealed a deal on nuclear cooperation, giving the opportunity for EDF to take part in nuclear projects in Italy, the company announced on Tuesday.
A 50:50 joint venture between the two companies has been set up with a view to looking into the feasibility of developing four nuclear reactors based on European Pressurised Reactor (EPR) technology.
“The agreement will therefore enable EDF to participate in the nuclear programme that Enel is expecting to develop in Italy, although at this stage construction is still dependent on changes in the legislative and regulatory framework and on the technological choices,” EDF said in a statement.
It added: “The agreement is for the Italian unit to enter commercial operations no later than 2020.”
The move was announced as the French and Italian governments were expected to sign an agreement for Enel to take a 12.5% stake in France’s second planned EPR which is to be built by EDF at Penly, in the department of Seine Maritime, and commissioned in 2017. The second EPR project is led by EDF with the participation of GDF Suez.
As a result of an initial agreement struck at the end of 2007, Enel already has a 12.5% share in EDF’s nuclear Flamanville EPR project currently under construction and due to come on stream in 2012. The 2007 deal also included an option for Enel to participate in further EPR projects in France’s third generation nuclear programme and under EDF’s plans for EPRs between now and 2023. EDF has in turn the option to join Enel’s nuclear projects in Europe. FS
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