Friday, 19 April 2013

Brazil: upgrades and new-build required as hydrologic risks mount

Brazil: upgrades and new-build required as hydrologic risks mount: "Brazilian nuclear energy received a boost after the announcement of a BR3.8 billion deal between the government backed utility Electobras and the state owned bank Caixa Economica Federal, to fund the construction of a third thermonuclear power plant at the Angra site on the South East coast.
The cash injection is due to be used on purchasing machinery, equipment and services for the plant in an agre...ement that will see the federal government underwrite the deal, where Caixa Economica Federal will receive 6.5% interest per year with an amortisation period of 20 years.
Currently the only two reactors online in Brazil are the Angra 1 and 2 plants, that began commercially operating in 1985 and 2000 respectively, that combined create 2007MWe of electricity per year. The two plants are going to need modernizing, so the lifespan of the plants can be extended. A financial commitment by the government has already been authorised in light of results from stress tests.
So what is in store for the Brazilian nuclear energy, in a country that is often regarded as economically a country for the future? "

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