By Brazil Stock Guide – Brazil’s National Energy Policy Council (CNPE) approved a resolution on Wednesday ordering Eletronuclear and development bank BNDES to update financial studies on the stalled Angra 3 nuclear power plant in Rio de Janeiro.
According to an official statement from the Ministry of Mines and Energy, the updated reports will guide the best economic-financial structure to resume construction, halted for years amid cost overruns and governance concerns.
Three scenarios under review
The CNPE resolution requires the studies to analyze three options:
- Maintaining the current investment framework between Eletrobras (NYSE: EBR) and ENBPar, with private sector participation;
- Completing the project exclusively with public funds, via ENBPar and the federal government;
- Assessing the costs of abandoning the project, including the legal and economic impacts for all stakeholders.
Energy security at stake
Energy Minister Alexandre Silvei said the completion of Angra 3 is central to Brazil’s long-term power security. “Angra 3 will strengthen the national grid with clean, reliable and base-load energy, reinforcing the country’s energy security,” he said.
The decision comes as Brazil seeks to diversify its energy mix, balancing its reliance on hydropower with nuclear capacity through the Brazilian Nuclear Program.