January 18, 2011 / 3:36 PM / 7 years ago

Brazil Eletrobras expects $2 bln loan for nuclear

* Eletrobras expects approval for Societe Generale loan

* Funds to finance equipment for Angra 3 nuclear plant

RIO DE JANEIRO, Jan 18 (Reuters) - Brazilian state power company Eletrobras said on Tuesday it plans to borrow 1.5 billion euros ($2 billion) from French bank Societe Generale to import equipment for the construction of a nuclear power plant.

Eletrobras (ELET6.SA) is evaluating a loan proposal from Societe Generale (SOGN.PA), which beat out offers from other banks, and expects to have legislative approval for it soon, said Roberto Cardoso Tavares of the firm’s nuclear division.

“The proposal is being evaluated by Eletrobras and Eletronuclear and I hope within two months it will go to the Senate, which has to approve financing,” said Tavares.

Those funds will help finance equipment purchases for the 1,405-megawatt Angra 3 nuclear power plant that Eletrobras is completing in the state of Rio de Janeiro.

Brazilian energy minister Edison Lobao this month said the country is planning to build four new nuclear power plants this year as the South American nation boosts nuclear generation to meet growing power demand.

Depending on their size, construction of those could imply considerable financing needs in the coming years. (1 euro=$1.34) (Reporting by Denise Luna, writing by Brian Ellsworth, editing by Matthew Lewis)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below