RIO DE JANEIRO, March 28 (Reuters) - Brazil's state-run nuclear company Eletronuclear would be able to complete its Angra 3 plant even after energy giant Eletrobras (ELET6.SA) , opens new tab sells its minority stake in the firm, Eletronuclear CEO Raul Lycurgo told Reuters on Friday.

The remarks come as formerly state-run Eletrobras moves to sell the 35% common-share stake it maintained in Eletronuclear after transferring control of the nuclear firm to state-owned ENBPar as part of its privatization process in 2022.

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On Friday, Eletrobras announced it would no longer invest in Angra 3, a nuclear power plant in Rio de Janeiro state that has been decades in the making and will cost an estimated 23 billion reais ($4 billion) to be completed.

There are alternatives for the state-owned nuclear company to remain strong and to maintain the Angra 3 project going even without Eletrobras' backing, said Lycurgo.

Eletronuclear is set to finance about 90% of the cost of the plant, with partners financing the remaining 10%, said Lycurgo.

The Angra 3 project, which dates back to the 1980s, has been stopped several times over the years, and is currently on hold as it waits for a green light from the government.

Even without work being done to develop it, Angra 3 has a significant weight in Eletronuclear's strained budget. The estimate is that the project costs the nuclear company over 200 million reais per year.

($1 = 5.7561 reais)

https://www.reuters.com/business/energy/brazils-angra-3-nuclear-power-project-still-viable-without-eletrobras-backing-2025-03-28/