Areva signs nuclear deals with China's CGNPC
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.
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Ontario, Quebec to swap energy in new deal to help with electricity demands
TORONTO - Ontario and Quebec have agreed to swap energy to help each other out when electricity demands peak.
The provinces' electricity operators, the Independent Electricity System Operator and Hydro-Quebec, will trade up to 600 megawatts of energy each year, said Ontario Energy Minister Todd Smith.
“The deal just makes a lot of sense from both sides,” Smith said in an interview.
“The beauty as well is that Quebec and Ontario are amongst the cleanest grids around.”
The majority of Ontario's power comes from nuclear energy while the majority of Quebec's energy comes from hydroelectric power.
The deal works because Ontario and Quebec's energy peaks…
