Brazil's TCU criticizes nuclear project indecision and funding risks

The Brazilian Federal Court of Accounts (TCU) has issued sharp criticisms regarding the management and funding of nuclear energy projects in Angra. The court described the federal government's indecision regarding the Angra 3 nuclear plant as a ‘festival of horrors’ and a ‘paradox.’ TCU President Vital do Rêgo Filho ordered a specific monitoring procedure to investigate the stalled project, noting that delays in deciding whether to resume construction have contributed to approximately R$ 2 billion in wasted resources over the last two years due to maintenance costs for the idle structure.

Simultaneously, the TCU warned that a lack of resources threatens to paralyze works intended to extend the operational life of Angra 1 until 2044. An audit of Eletronuclear revealed that the company has had to rely on expensive ‘bridge loans’ due to delays in a planned R$ 2.4 billion share issuance. The project, estimated to cost over R$ 3.5 billion, faces financial instability that could lead to work stoppages or a reduction in construction pace, potentially violating conditions set by the National Nuclear Energy Commission (Cnen).