Government postpones decision on completion of Angra 3 works.

247 - The National Energy Policy Council (CNPE) has once again postponed the decision on the completion of the works at the Angra 3 nuclear power plant, located on the southern coast of Rio de Janeiro. The matter was scheduled as the last item on the agenda for Tuesday's meeting (18), but there was no consensus among the ministers. To date, the federal government has not set a new date to discuss the topic again.

In a press conference following the meeting, the Minister of Mines and Energy, Alexandre Silveira, reinforced his support for the nuclear sector and highlighted the strategic importance of the plant. "Today, I emphasized once again the strategic importance of the nuclear sector for Brazil, as we are a country with high uranium reserves and possess the technology. We need to analyze Angra 3 holistically," stated the minister.

Silveira, however, conditioned the continuation of the works on the restructuring of Eletronuclear, the company responsible for the power plant. “I support the continuation of the Angra 3 project, but with the caveat that Eletronuclear needs to be completely remodeled. It needs to have sufficient strength to guarantee transparency and efficiency in the management of the project. Today, it is not a company that gives us the security to execute a project of this size,” he stated.

Billion-dollar investments and uncertainties about the future.

Angra 3, whose construction began in the 1980s, has already required decades of investment and, according to estimates, still needs around R$ 30 billion to be completed. The halt in construction, coupled with Eletronuclear's delicate financial situation, poses a challenge to the federal government in defining the fate of the project.

In December 2024, the Brazilian National Bank for Economic and Social Development (BNDES) delivered to Eletronuclear a technical, legal, and financial study on the feasibility of resuming the project. The report was prepared over two years, including analyses by the Federal Court of Accounts (TCU). Sector experts argue that completing the plant is strategic for the country, considering the need for firm energy sources with low greenhouse gas (GHG) emissions, especially with the growing participation of intermittent sources, such as wind and solar, in the national electricity matrix.

Eletronuclear, however, begins 2025 facing financial difficulties. With debts estimated at R$ 7 billion and an annual operating cost of R$ 800 million, the company depends on a government decision to guarantee the economic sustainability of the plant. If the project is abandoned, the costs could reach R$ 21 billion.

The situation also involves Eletrobras, privatized in 2022 and holding 35% of the voting shares in Eletronuclear. The state-owned company will play a key role in the final decision, since a new capital injection will be necessary to enable the completion of the works. When questioned about the possibility of Eletrobras leaving the Eletronuclear partnership, Silveira was categorical: "There is no possibility of it leaving."