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The UK is facing a major challenge to replace its aging fleet of Generation I nuclear power plants, many of which are scheduled to shut down in 2023.
The project by French state utility EDF to build two Generation III EPR units at Hinkley Point C in Somerset is on track for connection to the grid by 2025. Once in commercial operation the two units will provide up to 7% of the total electricity demand. Two similar units are planned for the Sizewell site in Suffolk.
However, press reports have suggested EDF is in “a race against time” to secure a funding deal for Sizewell C as delays risk making the project prohibitively expensive.
According to The Times newspaper EDF has hired Rothschild as financial adviser for the project and says it wants a “definitive way forward” from the government this year so it can start construction in 2022.
- Source: Nucnet
- Date: Friday, 17 January 2020
- Original article: nucnet.org/news/what-lies-in-store-in-2020-1-4-2020
The European Commission yesterday approved EDF's takeover of Areva's nuclear reactor business under EU merger regulations. The transaction, expected to be completed by the end of this year, is "unlikely to raise competition concerns", it said.
- Source: World Nuclear News
- Date: Tuesday, 30 May 2017
- Original article: world-nuclear-news.org/Articles/Areva-reactor-business-sale-meets-European-rules
The EDF Board of Directors on 17 May approved the establishment of Edvance, which brings together EDF and Areva NP engineers. as part of the reconstruction of the French nuclear industry. Edvance will be in charge of the basic design and implementation (studies, procurement support, assembly and commissioning) for projects involving nuclear islands and control systems for new reactors being built, both in France and worldwide.
- Source: NEI Magazine
- Date: Monday, 22 May 2017
- Original article: neimagazine.com/news/newsedf-sets-up-new-nuclear-engineering-company-5819843
The board of directors of French utility EDF today approved the formation of Edvance, a new company focused on the supply of nuclear islands. Edvance, of which EDF will hold 80% and Areva NP 20%, will be responsible for the design and implementation of nuclear islands and control systems for new reactors constructed in France and worldwide.
- Source: World Nuclear News
- Date: Thursday, 18 May 2017
- Original article: world-nuclear-news.org/Articles/EDF-board-approves-creation-of-Edvance
French engineering services group Assystem has offered €125m ($136m) for a 5% stake in the new Areva NP reactor unit being formed as part the broader restructuring of Areva. Assystem said on 11 May that it had made the offer to Areva and state-owned Electricite de France (EDF. Areva is in the process of selling Areva NP, which designs, makes and services nuclear reactors, to EDF as part of a government-led restructuring and recapitalisation after its equity was diminished by years of losses. The deal is set to be finalised in the second half of this year.
- Source: NEI Magazine
- Date: Friday, 12 May 2017
- Original article: neimagazine.com/news/newsassystem-seeks-stake-in-areva-np-5813588
CORRECTION - An earlier version of this story said Assystem has offered to buy a 5% stake in Areva NewCo. It has in fact offered to buy a 5% stake in New Areva NP.
- Source: World Nuclear News
- Date: Thursday, 11 May 2017
- Original article: world-nuclear-news.org/Articles/Assystem-makes-offer-for-5-stake-in-New-Areva-NP
France's Areva has reached agreements with both Japan Nuclear Fuel Limited (JNFL) and Mitsubishi Heavy Industries (MHI) on the main terms of their respective acquisition of 5% stakes in its nuclear fuel cycle activities. The operations are being split from Areva's reactor business into a new entity, referred to as 'NewCo'.
- Source: World Nuclear News
- Date: Friday, 03 February 2017
- Original article: world-nuclear-news.org/Articles/JNFL,-MHI-agree-terms-for-buying-into-NewCo