Earlier this week, EDF confirmed that construction costs on its new European Pressurized Reactor (EPR) nuclear power station at Flamanville have increased €2 billion since the company’s latest cost revision in July 2011, when it made an estimation of €6 billion.
The project, which started in 2007, is also well behind schedule although EDF maintains that it has now achieved “significant milestones”.
But those assurances have not been enough for Italian partner Enel who has announce that it is exiting from the Flamanville project and plans to build five other EPR reactors in France.
Enel will be reimbursed €613 million for its 12.5% stake in the project, which the companies have been working on since 2007.
The Italian company cited the delays and rising costs for its decision, along with the referendum in Italy in 2011 rejecting new nuclear power in the country.
For further information:
EDF Energy extends life of UK nuclear facilities by seven years (5-Dec)
Hitachi closes deal to buy E.ON and RWE’s nuclear venture (27-Nov)
EC gives go ahead for EDF’s Hinkley Point nuclear project (8-Aug)
E.ON and RWE npower drop UK nuclear development plans (29-Mar)
Article source: http://www.energyefficiencynews.com/i/5614/