Enel Admits Completion of Mochovce NPP Lags Behind Plan

ROME/BRATISLAVA, March 8, (WEBBNOVINY) — The completion of the third and fourth unit of the Mochovce nuclear power plant lags behind plans. Power utility Slovenske Elektrarne (SE), which has been building the two units, will put them online a year later than planned. “Commercial operation of the third unit will start in late 2013 and the fourth unit in the middle of 2014. The postponement of a few months has been caused by several factors, such as construction works, as well as stress tests, which, by the way, came off excellently,” CEO of SE’s majority stockholder, the Italian energy group Enel Fulvio Conti stated at an annual press conference. Slovenske Elektrarne planned to phase in the third unit in late 2012 and the fourth one eight months later.

The cost of completion of the two Mochovce units is projected at some EUR 2.8 billion. Construction works on completion of the EMO third and fourth units were officially launched on November 3, 2008. The units will have installed capacity of 880 megawatts. The power utility Slovenske Elektrarne signed contracts with the main contractors Skoda Jadrove Strojirenstvi (JS), Atomstroyexport, VUJE, Enseco, Inzinierske Stavby Kosice and Enel Ingegneria & Innovazione in early June 2009.

Until January 1, 2008, EUR 347 million was directed to construction works. The sum reflects the value of equipment and buildings that can be used in the completion of the two units. The premises were about 70 percent finished and technical equipment 30 percent installed.

Since 2006, the Italian energy giant Enel SpA controls a 66-percent stake in Slovenske Elektrarne and the government privatization agency, the FNM holds 34 percent. The Italian investor acquired the majority stake in Slovenske Elektrarne in April 2006. Slovenske Elektrarne is the biggest electricity producer in Slovakia and the No. 2 in CEE. SE operates installed capacity of 5,737 MW at its power plants. The power producer runs two nuclear power installations, two thermal power plants and thirty-four hydropower plants.

SITA