Eletrobras Gets Nuclear Loan

Brazil’s state development bank, the BNDES, has agreed to lend BRL6.1bn to state electricity holding company Eletrobras to build the Angra 3 nuclear power plant. BNDES is funding 58.6% of the project cost. The plant will have installed capacity of 1,405MW once up and running by 2016. The BNDES says this is a third of the state of Rio’s consumption.