A deal between national power giants Electricité de France and Italy’s Enel has been concluded. The move will allow the Italian company access to the French power market and the chance to develop a new nuclear industry after abandoning the technology in 1987.
Fulvio Conti, the newly appointed Enel chief executive, signed an agreement with EdF chief executive Pierre Gadonneix that ends the four-year dispute over access to each other’s markets.
Enel will join EdF and other partners in development of a pressurised-water reactor at Flamanville in northern France. Enel is also expected to have a 2-3% share of the French electricity market as a result of the accord. Financial terms of the deal were not disclosed but are thought to concern an Enel acquisition of a 35% stake in French power company Snet.
