Impasse over nuclear power plant future

Friday 16 January 2009

Essent top man Michiel Boersma is confident that the Dutch utility’s 50% stake in the country’s nuclear power plant Borssele will remain part of the deal agreed for its takeover by German energy concern RWE, reports NRC Handelsblad.

According to the statutes of the Borssele nuclear power station, the facility cannot be owned by a foreign listed company.

'Everything is possible but at this moment I do not expect the nuclear power station to be excluded from the deal,' the NRC quotes Boersma as saying.

Borssele is jointly owned by Essent and the province of Zeeland’s regional power utility Delta which has made it clear that it is not prepared to alter the nuclear power station’s statutes to allow Essent’s 50% stake to fall into the hands of RWE.

'No changes to statutes'

Mirjam van Zuilen, Delta spokeswoman, told Reuters on Thursday that the statutes could be amended if both owners agree to the changes, but stressed that her company had no intention of doing so.

'Delta is government-owned and RWE isn't ... so we'd like to talk to Essent about their 50% interest in the nuclear power plant,' Van Zuilen is quoted by Reuters as saying, adding that Delta would be interested in buying Essent's stake.

According to Friday’s Financieele Dagblad, the issue of Borssele is not insurmountable. The paper says various sources have made it clear that under no circumstances will this obstacle prevent the deal between Essent and RWE from going ahead.

© DutchNews.nl

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