Slovenské elektrárne has defaulted and Enel can’t agree with EPH on financing Mochovce
The Mochovce nuclear power plant completion budget will swell to €6.2bn from the previous €5.7bn, announced Deputy Economy Minister Karol Galek. When the completion was launched in 2008, the budget stood at €2.8bn. The most recent hike has already been okayed by the Slovenské elektrárne’s shareholders’ meeting. The extra money will be provided by Enel and EPH, which control 66% of SE shares (the state owns the rest). SE wants to start putting nuclear fuel into the third Mochovce bloc in August 2021. The fourth bloc should be completed two years after the third. Each of the two blocs will have an installed output of 471 MW and together, they will cover 13% of Slovakia’s power consumption.
Technically, SE has defaulted on its debt and Enel with EPH find it very difficult to agree on financing the completion, says Richard Sulík.