Subscribe free to our newsletters via your
  Energy News  

Subscribe free to our newsletters via your

Struggling Areva plans 5 bn euro capital increase
by Staff Writers
Paris (AFP) Jan 28, 2016

Areva said Wednesday it plans a five billion euro capital increase to stabilise its finances, as the struggling French nuclear giant seeks to finalise the takeover of its reactor arm by rival EDF.

Paris, Areva's largest shareholder with an 87 percent stake, will take part in the capital increase and act as a guarantor for its success, the company said in a statement.

"The board of directors... approved the principle of a capital increase envelope of 5 billion euros ($5.4 billion), which aims restore the group's balance sheet," Areva said in a statement.

"The French state, as the leading shareholder, will take part in this and will ensure its success."

Areva also predicted it would book a net loss in fiscal 2015 for a fifth consecutive year, as the jewel in the crown of France's huge nuclear energy industry struggles with mounting costs and a huge debt pile.

Demand for nuclear power has slumped since the 2011 Fukushima disaster in Japan, and Areva has been hit by cost overruns and difficulties building new reactors in Flamanville, northwestern France and in Finland.

Seeking to keep the once world leading nuclear energy company alive, France has been pushing it to work more closely with state-backed electricity utility EDF, which in July agreed to buy Areva's nuclear reactor unit.

Areva said Wednesday the deal with EDF would value its Areva NP arm at 2.5 billion euros for the entire unit, less than the 2.7 billion agreed last year. Then, EDF said it would buy between 51 and 75 percent of the unit.

The deal is expected to be finalised in 2017, subject to approval by authorities.





Related Links
Nuclear Power News - Nuclear Science, Nuclear Technology
Powering The World in the 21st Century at

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Previous Report
China planning to build floating nuclear power plant
Beijing (AFP) Jan 27, 2016
China is planning to build a floating nuclear power station as it seeks to double its atomic capacity by 2020, a senior official said Wednesday. Authorities are making plans for a "marine floating power station", which will go through "strict and scientific demonstration", said Xu Dazhe, chairman of China Atomic Energy Authority. "China is devoted to building itself into a maritime power ... read more

UCR research advances oil production in yeast

Assessment aims to maximize greenhouse gas reductions from bioenergy

One-stop shop for biofuels

Automakers' green push lifts use of hemp, citrus peel

Converting solar energy into electrical power using photo-bioelectrochemical cells

LADWP Board to continue power supply transformation to clean energy

Australia doubles down on large-scale solar with launch of largest power plants

IHS confirms solar wafer supply shortage in 2016

Health concerns in wind energy developments

OX2 sells 42 MW wind farm to IKEA in Finland

E.ON readies wind farm for English Channel

Strong winds help Denmark set wind energy world record

Australian farmers to benefit from renewables boost

War Between Saudi Arabia And Iran Could Send Oil Prices To $250

China 2015 electricity output down 0.2 percent

Clean energy to conquer new markets in 2016

Corvus Energy announces new performance specifications for lithium ion battery systems

Creation of Jupiter interior, a step towards room temp superconductivity

Non-platinum catalysts for fuel cells remain a mystery

Researchers prove surprising chemistry inside a potential breakthrough battery

Follow A Live Planet Hunt

Lab discovery gives glimpse of conditions found on other planets

Nearby star hosts closest alien planet in the 'habitable zone'

ALMA reveals planetary construction sites

Russia pursuing underwater drones

Nulka missile decoy tested on aircraft carrier

Navy receives sixth Expeditionary Fast Transport

Indonesian shipyard launches frigate

Opportunity Abrasion Tool Conducts Two Rock Grinds

Rover uses Rock Abrasion Tool to grind rocks

Thales Alenia Space to supply reaction control subsystem for ExoMars

Money troubles may delay Europe-Russia Mars mission

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

The content herein, unless otherwise known to be public domain, are Copyright 1995-2016 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.