AREVA Applauds Constellation Energy and EDF Joint Venture

AREVA Inc. is pleased with the announcement of a strategic joint venture - UniStar Nuclear Energy, LLC - between Electricite de France (EDF) and Constellation Energy. To support the development and deployment of AREVA's U.S. Evolutionary Power Reactor (U.S. EPR) in the United States and Canada.

AREVA views the agreement signed between EDF and Constellation Energy as further proof of Constellation Energy's commitment to the U.S. EPR design. AREVA will continue to market the U.S. EPR technology through the UniStar Nuclear business model established in 2005.

UniStar Nuclear is a jointly developed enterprise of Constellation Energy and AREVA Inc. that provides a platform upon which to deploy the safest, most secure and most reliable standardized fleet of advanced, nuclear power plants in the United States. It brings together industry-leading design, licensing, construction, and operations expertise in a unique business model that is pioneering a new era of emissions-free American power generation.

AREVA sees the combination of EDF's financial investment and expertise in nuclear power operations as strengthening the position of the U.S. EPR in the United States. The design certification process for the U.S. EPR is in progress with the U.S. Nuclear Regulatory Commission, and is among AREVA's contributions to the UniStar Nuclear business model.

Several U.S. energy companies have also indicated their interest in the U.S. EPR technology for potential new nuclear power development projects with the NRC. In addition to Constellation Energy, the commission currently lists applications anticipated by AmerenUE and Amarillo Power.

The AREVA EPR is an evolutionary 1,600 MW pressurized water reactor design based on well proven technology. It is the only Generation III+ design that is actually being built and incorporates significant improvements in safety and economics over previous technologies, providing lower total lifecycle costs and the greatest physical safety for 21st century scenarios.