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EDF abandons USA nuclear power project, turns to renewable energy instead

sun-championEDF to exit US nuclear power over impact of shale gas FT, By Hugh Carnegy in Paris  , 31 July 13, 

EDF, the world’s biggest producer of nuclear-powered electricity, is to pull out of nuclear production in the US, citing the “revolution” in US energy markets caused by the advent of shale gas……

EDF, majority owned by the French state, announced that it was pulling out of CENG, its joint venture in the US withExelon which operates five nuclear plants. Exelon will take over operation of the CENG plants while EDF will exercise a put option to sell its 49.9 per cent stake in the venture between 2016 and 2022. EDF will also receive an immediate special dividend of $400m…….

Mr Proglio said the prospects for nuclear power in the US had been hit by “a true revolution” caused by the exploitation of shale deposits, which had “completely reshaped the landscape of electric power generation in favour of gas”.

Mr Proglio said EDF would switch its focus in the US to renewable energy sources.

August 2, 2013 - Posted by | business and costs, USA

1 Comment »

  1. […] EDF abandons USA nuclear powerEDF, the world’s biggest producer of nuclear-powered electricity, is to pull out of nuclear production in the US, citing the “revolution” in US energy markets caused by the advent of shale gas…… EDF, majority owned by the French state, announced that it was pulling out of CENG, its joint venture in the US with Exelon which operates five nuclear plants. … Mr Proglio said EDF would switch its focus in the US to renewable energy sources. >more   j […]

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