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EDF nears cut-price deal for GE nuclear turbine unit with Russian contracts

French energy group renegotiates terms for business that also supplies Rosatom

Sarah White in Paris YESTERDAY 6 Print this page French power operator EDF has renegotiated a deal to buy a nuclear turbine maker from General Electric, cutting its offer price for a business seen as strategic for France’s atomic industry but that is exposed to the risk of sanctions because of orders from Russia’s Rosatom. State-controlled EDF, which is on the cusp of being fully renationalised, was encouraged into making a move on the turbine company by the French government in a deal announced by President Emmanuel Macron at the start of the year.

The acquisition was touted as a way of recovering French control of the technology as EDF gears up to build new reactors, while also securing the future of a large factory in eastern France at a time when GE was exploring asset sales and looking to cut jobs. But the business has since been caught up in the fallout from Russia’s invasion of Ukraine, even though its dealings with state-owned Rosatom, one of the world’s biggest nuclear plant developers, have not faced sanctions so far………………………. more https://www.ft.com/content/4e3f8a9e-e89c-47c9-9caa-b84825db1e70

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October 12, 2022 - Posted by | business and costs, France

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