Brazil considers R$ 650 million injection for Eletronuclear

The Brazilian government is considering a capital injection of approximately R$ 650 million into Eletronuclear to manage the financial crisis facing the state-controlled company. The funds are intended to maintain the Angra 3 nuclear plant project, which is currently unfinished and generating no revenue while awaiting a final government decision regarding its continuation.

The proposed amount would cover regulatory, contractual, and nuclear safety obligations, including international supplies and specialized services. Technical notes from ENBPar suggest that the minimum cost for the institutional and technical survival of Angra 3 in 2027 is R$ 1.03 billion, with the federal government's portion being supplemented by a minority shareholder.

Eletronuclear is facing a critical financial situation, having consumed R$ 1.4 billion of its own cash since September 2024 because tariffs from Angra 1 and 2 do not cover maintenance and Angra 3's debt. To alleviate pressure, the company has secured a temporary standstill on BNDES loan payments until the end of 2027 and is seeking similar terms with Caixa Econômica Federal. Estimates indicate that the total cost to complete the project could reach R$ 23.9 billion, while abandoning it could cost between R$ 21.9 billion and R$ 26 billion.