Italy, France Partner for Nuclear Power

Italy and France has signed an agreement that will set the stage for Italy to return to nuclear power after a 20-year hiatus.

The accord was signed by Italian Premier Silvio Berlusconi and French President Nicolas Sarkozy, who called for the construction of at least four nuclear power plants in Italy, using French technology, and the participation of Italian electricity utility ENEL in the construction of another five plants in France.

Italy had abandoned nuclear energy after a 1987 referendum enacted after the Chernobyl disaster in Russia.

”We must wake from our slumber because renewable energy and nuclear power are the future. With France by our side and thanks to its know-how we will be able to make up for a lot of years and build plants in an acceptable period of time,” Berlusconi said after the signing. ”In the 1970s we were in the forefront of nuclear technology but then, because of a certain ideological fanaticism, we interrupted the building of two new plants which were close to completion,” he added.

French company Areva seeks to benefit greatly from the partnership, as it has already announced a plan for the joint development of a fleet of at least four EPR nuclear reactors in Italy. However, the company is facing speculation from industry pundits worried about the effects of the global financial crisis as Areva will reportedly be forced to sell some of its assets.