PARIS (Agefi-Dow Jones)–The public electrician EDF announced on Friday that it had signed a definitive agreement with General Electric for the acquisition of the nuclear activities of GE Steam Power.
The transaction is expected to be finalized in the second half of 2023, subject to obtaining the required regulatory approvals, the group said.
As part of the relaunch of the nuclear sector announced by Emmanuel Macron, EDF and GE had opened exclusive discussions in February in order to bring certain technological bricks into the French fold, seven years after the sale to General Electric of the energy branch of Alstom.
The agreement signed on Friday covers key equipment for new nuclear power plants, including Arabelle turbines, as well as maintenance and upgrades of equipment at existing nuclear power plants outside the Americas.
“This transaction will allow the EDF group to master the technologies and skills relating to the conventional island of nuclear power plants, essential for the sustainability of the existing nuclear fleet and future projects,” EDF said in a press release.
GE Steam Power’s steam turbines can notably equip reactors with EPR and EPR2 (European Pressurized Reactor) technology as well as SMR (Small Modular Reactors), the group added.
-Francois Schott, Agefi-Dow Jones; 01 41 27 47 92; [email protected] ed: VLV
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November 04, 2022 13:33 ET (17:33 GMT)