Photo: Brazil 3rd Power Plant - Angra
Brazilian state-owned utility Eletrobras said Thursday that it secured an additional 3.8 billion reais ($1.85 billion) in financing for its third nuclear-power plant, Angra 3.
The loan from public bank Caixa Economica Federal has a 20-year term and an interest rate of 6.5 percent, Eletrobras said in a regulatory filing.
Eletrobras earlier borrowed 6.1 billion reais ($2.97 billion) from Brazil’s state development bank, BNDES, to fund the new 1,405 MW plant.
Scheduled to come on line in July 2016, Angra 3 is now under construction in Angra dos Reis, some 150 kilometers (93 miles) from Rio de Janeiro.
The same city hosts both of Brazil’s existing nuclear plants: Angra 1 and Angra 2.
Eletrobras subsidiary Eletronuclear estimates the total cost of building Angra 3 will reach 10 billion reais ($4.88 billion).