EDF : EDF Board of Directors approves the creation of EDVANCE, a significant milestone in the reconstruction of the French nu...
May 17 2017 - 1:00PM
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Press release
17 May 2017 |
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EDF Board of Directors approves
the creation of EDVANCE, a significant
milestone in the reconstruction of the French nuclear
industry
Wednesday 17 May, 2017, the EDF
Group's Board of Directors has approved the creation of the company
EDVANCE which brings together EDF and AREVA NP engineers. This is a
significant milestone in the reconstruction of the nuclear
industry, announced in June 2015.
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 around the world.
EDF will own 80% of the company's
capital, while AREVA NP will own 20%. This new company is set up
independently from EDF's acquisition of the exclusive control over
NEW AREVA NP, planned for the end of 2017.
The creation of EDVANCE
consolidates EDF's role as leader of the French nuclear industry.
AREVA NP will focus on its core business which is the nuclear
boiler. As such, it will provide the primary circuit, equipment,
safety control systems and nuclear instrumentation, and it will
keep developing its business on its installed base.
Jean-Bernard
Lévy, EDF Group's Chairman and Chief Executive Officer, said:
"With the creation of EDVANCE, we are taking a
major step forward in the reconstruction of the French nuclear
industry. This company brings together the
expertise of EDF and Areva NP under one roof, so they can design
and build nuclear islands for power plants.
This combining of forces will help our industry work better and
more efficiently when it comes to building new nuclear plants, thus
making sure it is more competitive domestically and on
international markets".
A key player in energy transition,
the EDF Group is an integrated electricity company, active in all
areas of the business: generation, transmission, distribution,
energy supply and trading, energy services. A global leader in
low-carbon energies, the Group has developed a diversified
generation mix based on nuclear power, hydropower, new renewable
energies and thermal energy. The Group is involved in supplying
energy and services to approximately 37.1 million customers, of
which 26.2 million in France. The Group generated consolidated
sales of €71 billion in 2016. EDF is listed on the Paris
Stock Exchange.
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EDF SA
22-30, avenue de Wagram
75382 Paris cedex 08
Share capital of 1,370,938,843.50 Euros
552 081 317 R.C.S. Paris
www.edf.fr |
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CONTACTS:
Press: 01 40 42 46 37
Analysts and investors: 01 40 42 40 38 |
PR-EDF EDVANCE
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Source: EDF via Globenewswire