Italian power giant Enel and the French firm EDF have terminated a cooperation arrangement on the European Pressurized Reactor nuclear project in Flamanville, Normandy, in addition to five other power plants to be built in France using the same technology.
The move terminates a Strategic Partnership Agreement between the two companies dating to 2007. Enel announced the falling out Dec. 5 after the firm exercised its “exit right” on participation in the agreement.
According to an Enel press release, the firm will be reimbursed for the 613 million euros ($801.7 million) it put into the project, plus interest. Enel blamed construction cost over-runs and delays, a drop in power demand in France, and resistance to nuclear power development in Italy for the dissolution of the agreement.
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