Enel and Russian company Inter Rao have teamed up to build a nuclear power plant in Kaliningrad, Russia.
The memorandum of understanding (MOU) will work towards the development of the 2,340MW nuclear plant, comprising of two 1,170MW units.
The technology is expected to enter into operation between 2016 and 2018.
The plant is expected to export a significant proportion of electricity to nearby European markets.
Inter Rao UES said it will set the terms and conditions for foreign investors in the Baltic NPP project and develop technical proposals for distribution of the NPP's electric power.