Areva signs nuclear deals with China's CGNPC
PARIS, FRANCE - Areva said it has signed two deals with China Guandong Nuclear Power Company (CGNPC) to reinforce its partnership with China.
CGNPC and Areva will create a joint venture held 55 percent by Chinese interests and 45 percent by Areva for the engineering and procurement of nuclear power plants, the French builder of nuclear reactors said in a statement.
Areva has already sold two European Pressurized Reactors (EPR) to China.
The JV will focus on CGNPC projects in China at first before looking at projects abroad.
CGNPC and Chinese sovereign wealth funds will also take a 49 percent stake in Uramin, a mining company currently wholly-owned by Areva.
Areva will remain operator of Uramin's current and future projects but CGNPC is now guaranteed access to more than half of the miner's total production, while Areva benefits from additional means of financing its activities, Areva said.
Related News
Some old dams are being given a new power: generating clean electricity
TORONTO - As countries race to get their power grids off fossil fuels to fight climate change, there's a big push in the U.S. to upgrade dams built for purposes such as water management or navigation with a feature they never had before — hydroelectric turbines.
And the strategy is being used in parts of Canada, too.
The U.S. Energy Information Administration says only three per cent of 90,000 U.S. dams currently generate electricity. A 2012 report from the U.S. Department of Energy found that those dams have 12,000 megawatts (MW) of potential hydroelectric generation capacity. (According to the National Hydropower Association,…
