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Russian nuclear agency targets Enel for East European contracts

Sergei Kiriyenko, chief of Russia's nuclear energy agency, will travel to Rome this week to sign an agreement with Italy's biggest power company, Enel SpA, which could lead to several contracts in east Europe.

iriyenko, traveling as part of a Russian delegation led by President Vladimir Putin, will meet with Enel SpA CEO Fulvio Conti on March 14, said Sergei Novikov, a spokesman for the nuclear agency. The two are scheduled to sign an accord to develop technology, which could also ensure that Enel's nuclear plants order new reactors from Russia. „This will be a framework document, which is interesting for us since Enel is an investor in many nuclear assets in Eastern Europe that potentially could be our clients,” Novikov said via phone in Moscow. Italy eschewed nuclear power in the 1980s, although Enel has amassed a number of plants in the last five years, including 66% of Slovakia's national electricity generator Slovenske Elektrarne in 2005. As the nuclear assets look to expand, „Enel will be making the final decision,” as the principle stakeholder, Novikov said. (Bloomberg)