France and Italy Form Strategic Partnership for Nuclear Power Production

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Researched by Industrial Info Resources (Sugar Land, Texas)--On February 24, French and Italian companies signed a nuclear power cooperation agreement that includes not only the announced 12.5% acquisition of a new European pressurized reactor in France by Italian company Enel SpA (BIT:ENEL) (Rome), which is expected to be commissioned in 2017, but also the future presence of French companies in the construction of four third-generation nuclear reactors in Italy. For more information, view related article from February 24, 2009 Italy's Enel Expected to Acquire 12.5% Stake in France's Second European Pressurized Reactor to Be Built in Penly.

At present, Italy is awaiting a legal procedure to be sanctioned by the Italian senate in order to re-start nuclear power generation in the country. Italy's power production relies on imported fossil fuels, which account for 80% of the power generated in the country since 1990.

In order to satisfy future power demand and to make the average power generation per hour more competitive in the European market, Italian utility Enel and Electricite de France (EPA:EDF) (EDF) (Paris) plan to build four European pressurized reactors in the future. Plans are to form a joint venture between Enel and EDF to study the feasibility of the project. Nevertheless, for the operation of the power stations, if nuclear power is politically and technically viable after review of the issue by local authorities in March, Enel would hold the majority of the shares, and foreign investments companies could also participate.

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