Enel Signs Nuclear Agreement with EDF

NEW YORK--(Italy Watch)--Enel (ENEL.MI), the world's third-largest power company, and France's EDF (Euronext: EEN), France's largest energy provider, have inked a deal to begin the construction of four nuclear power stations in Italy.

Construction of the power stations, whose sites are not yet determined, will begin in 2013 and is set to be completed in 2020.

The deal marks an end to Italy's 22-year long opposition to nuclear power generation, and strengthens France's position as the world's largest exporter of electrical power.

France, long a producer and exporter of nuclear energy, fulfills 80% of domestic electricity needs from nuclear power and exports 18% of its production.

Other nuclear power producers that are reportedly keen on developing power stations in the newly-opened Italian market include the United States' Westinghouse, Germany's E.ON AG (FWB: EOAN) and Italy's Edison (EDN.MI).