Enel, EdF form JV to develop nuclear projects in Italy

Italy's largest energy company, Enel SpA (Ente Nazionale per l'Energia eLettrica SpA), and France's leading power generation and distribution company EdF (Electricite de France) announced yesterday the formation of a joint venture company aimed at developing feasibility studies for the construction of at least four EPR nuclear reactors in Italy.

The new company, ''Sviluppo Nucleare Italia Srl'' (SNI), a 50:50 partnership firm has been created based on the agreement signed between Enel and EdF in February during the French-Italian summit. Last month, Italy enacted law to return to nuclear energy after a gap of more than two decades, when the country's reactors were shut following protests.

The creation of SNI marks a first substantial step towards implementation of nuclear projects in Italy. The company will have its headquarters in Rome, Italy.

EPR (European Pressurised Reactor) by Areva is an advanced third generation pressurised water reactor technology which is meant to eventually replace the aging reactors around the world based on old design.

On completion of feasibility studies and a final investment decision, individual companies will be established to build, own and operate each of the EPR power plant.

Enel CEO and general manager, Fulvio Conti said:'' The creation of this joint venture lays the ground for a concrete come back of the nuclear power in Italy and represents a unique opportunity for contributing to the recovery of the country's economy, creating specialised jobs and increasing employment.''