Enel terminates nuclear relationship with EDF

Enel SpA (BIT: ENEL) has ended its nuclear power cooperation with EDF, a consequence of the decision by Italy to dispense with nuclear energy in a referendum last year.

The Italian and French companies signed up to the agreement in 2007.

Nuclear power plant
In a statement, Enel said it will be reimbursed for about $803.03m, plus accrued interests, related to its 12.5 per cent stake in the project.

The Rome-based company said it notified EDF of its right to end its participation in the European Pressurized Reactor nuclear plant project in Flamanville and another five power plants to be built in France using EPR technology.

The Flamanville project has encountered construction cost over-runs and delays, said Enel.

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