French state-controlled nuclear engineering group Areva SA (CEI.FR) Friday signed a strategic partnership for its nuclear reactor program with U.K. power systems provider Rolls-Royce Group PLC (RR.LN).
French state-controlled nuclear engineering group Areva SA (CEI.FR)
Friday signed a strategic partnership for its nuclear reactor program with
U.K.
power
systems provider Rolls-Royce Group PLC (RR.LN).
The deal gives Rolls-Royce a role in
France
's
plans to deploy its nuclear technology around the world as countries look to
expand their nuclear power fleets and seek to cut emissions from fossil fuels.
"We are delighted that Rolls-Royce, a worldwide symbol of excellence, will
become a major industrial partner of Areva," Areva Chief Executive Anne Lauvergeon
said after the signing ceremony in
London
.
"We want solid relationships with a series of international companies that
can work with us globally. We are looking for strong ties and this new
agreement is a major step in the direction," she added.
Under the deal, Rolls-Royce will manufacture in the
U.K.
key
components for Areva's new third generation 1,600 megawatt EPR nuclear reactors
that will be used in the
U.K.
and
elsewhere.
There were no further details on the type of components or the value of the
partnership.
The partnership is good news for the U.K., which is in the midst of a revival
of its nuclear power fleet as most of the country's aging nuclear power
stations are due to close over the next 10 to 15 years leaving a potential
power shortfall.
"This will deliver benefits to the
U.K.
and
will further enhance the export potential in this fast growing sector,"
said Rolls-Royce Chief Executive John Rose.
The
U.K.
government sees nuclear power as a low-carbon alternative to building more coal
and gas-fired power plants and is counting on nuclear to help meet its
ambitious climate change targets on cutting emissions.
France
's
Electricite de France SA (EDF.FR) is leading the nuclear revival in the
U.K.
with
Areva and aims to have its first new nuclear power plant commercially
operational in 2018.
In the U.K. Areva is also competing to supply a further four reactors to E.ON
AG (EOAN.XE) and RWE AG (RWE.XE) joint venture Horizon Nuclear Power and is in
talks with nuclear consortium NuGen, that includes Iberdola SA (IBE.MC), GDF
Suez SA (GSZ.FR) and Scottish and Southern Energy PLC (SSE.LN).
Areva also has an agreement with the Nuclear Advanced Manufacturing Research
Centre to act as its manufacturing sourcing hub to identify other British
manufacturing companies that want to enter the civil nuclear market for the
first time.
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