EDF signs binding agreement to acquire GE Steam Power's nuclear activities
Nov 05, 2022
Paris [France], November 5: American multinational conglomerate General Electric Company (GE) and French electric company EDF on Friday signed a deal for EDF to acquire GE Steam Power's nuclear activities.
"These activities include the manufacturing of conventional island equipment for new nuclear power plants," EDF said.
EDF will also take over maintenance and upgrade activities for existing nuclear power plants in all regions other than the Americas.
"The transaction also includes steam turbine technology for future nuclear plants, like the next generation of European pressurized reactors (EPR2) and small modular reactors (SMR)," EDF added.
GE Steam Power's nuclear steam turbines are installed in half of nuclear power plants globally, including all of EDF's nuclear plants in France.
According to EDF, the transaction would combine GE's nuclear steam turbine technology and services expertise with a strengthened commitment from EDF to the nuclear power sector, creating an industry-leading global steam turbine equipment and services provider.
The transaction is expected to close in the second half of 2023, subject to regulatory approvals.
Source: Xinhua
