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Financial problems stall new nuclear projects in Brazil

“These nuclear projects take a long time to get off the drawing board and generate a lot of controversy, so they’ll likely be last in line to receive financing,”

Brazil’s Plans For Nuclear Energy May Face Financing Problem,  WSJ.com By Paulo Winterstein, Dow Jones Newswires; AUGUST 16, 2010SAO PAULO, Brazil –Brazil’s plan to build at least five nuclear power plants over the next two decades may run into a financing problem as federal budget constraints limit spending by government-controlled utility Centrais Eletricas Brasileiras SA (ELET6.BR, EBR).

The company known as Eletrobras, which is in the process of building Angra 3, a 9.5 billion Brazilian real ($5.1 billion) reactor that will have a capacity of 1,400 megawatts when it’s completed in 2015, said last week it signed an agreement with the national energy research corporation to study sites for additional nuclear reactors.

Yet there are a number of financing obstacles which Eletrobras must clear to be able to get any construction underway.

“These nuclear projects take a long time to get off the drawing board and generate a lot of controversy, so they’ll likely be last in line to receive financing,” said Rosangela Ribeiro, analyst at brokerage SLW in Sao Paulo. Under current circumstances “it’s very difficult to find resources for this,” Ribeiro said……

Brazil’s Plans For Nuclear Energy May Face Financing Problem – WSJ.com

August 17, 2010 - Posted by Christina Macpherson | Brazil, business and costs | antinuclear, nuclear, nuclear costs, reactor