Prosecutors Ask Audit Court to Oversee Eletronuclear as Angra 3 Costs Balloon

Overview

• Brazil’s Public Prosecutor at the TCU filed a representation requesting continuous monitoring of Eletronuclear’s finances and the Angra 3 project.
• Eletronuclear recently sought an immediate R$1.4 billion injection from the federal government to cover a cash shortfall.
• BNDES studies estimate finishing Angra 3 at about R$24 billion, abandoning it at R$22–26 billion, and maintaining the idle site at roughly R$1 billion per year; construction has been halted since 2015.
• The filing asks the TCU to assess reorganization alternatives, including potential public–private partnerships, to require actions by the Mines and Energy and Finance ministries, and to pursue accountability for prolonged paralysis.
• The broader strain on state firms persists, with nine SOEs flagged as fiscal risks, a projected 2025 shortfall above R$9 billion, a R$3 billion budget freeze tied to Correios, and government demands for a robust restructuring plan without pursuing privatization.