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Areva
Areva S.A. was a French multinational group specializing in nuclear power, active between 2001 and 2018. It was headquartered in Courbevoie, France. Before its 2016 corporate restructuring, Areva was majority-owned by the French state through the French Alternative Energies and Atomic Energy Commission (54.37%), Banque publique d'investissement (3.32%), and Agence des participations de l'État (28.83%). Électricité de France, in which the French government has a majority ownership stake, owned 2.24%; the Kuwait Investment Authority owned 4.82% as the second largest shareholder after the French state.
As a part of the restructuring program following its insolvency, Areva sold or discontinued its renewable energy businesses and sold its reactors subsidiary Areva NP (which has reverted to its original name, Framatome) to EDF. Its nuclear propulsion and research reactors subsidiary Areva TA (now TechnicAtome) was sold to the Agence des participations de l'État and its nuclear cycle business was reorganized into a separate company New Areva (becoming Orano). A new holding, Areva S.A., was also created to act as a hive-off vehicle for Areva's ongoing “at-risk” activities, including the completion and delivery of the Olkiluoto 3 in Finland, execution of Areva's remaining renewable energy projects, and finalization of the sale of Areva NP to EDF.
In 2017, the sale of Areva TA was finalized and in January 2018, so was that of Areva NP, while New Areva was rebranded Orano; these developments marked the end of the Areva group.
Areva was created on 3 April 2001 by the merger of Framatome (later: Areva NP, now: Framatome), Cogema (later: Areva NC, now: Orano Cycle) and Technicatome (later: Areva TA, now: Technicatome). It was based on the structure of its precursor, CEA-Industrie. Anne Lauvergeon became its first CEO.
Jean-Pierre Raffarin, the former Prime Minister of France, announced the privatization of Areva in 2003, but it was postponed several times, the French government opting finally for the privatization of GDF and EDF. At the end of October 2005, French Prime Minister Dominique de Villepin announced that he had suspended the privatization process.
In 2003, Areva secured a contract for the Olkiluoto 3 project, which foresaw construction of the third generation EPR-type pressurised water reactor. In 2004 a contracted fixed price was established as €3.2 billion. Construction started in 2005.
In 2004, Areva acquired Alstom's transmission and distribution activities, which became Areva T&D. It was sold back to Alstom and Schneider Electric in June 2010.
On 15 September 2005, Areva and Constellation Energy of Baltimore announced a joint venture called UniStar Nuclear to market the commercial EPR in the United States. The joint venture later became UniStar Nuclear Energy in 2007. In 2010, EDF acquired 100% of UniStar Nuclear Energy. However these plans failed to come to fruition, and in February 2015 Areva suspended the EPR Design Certification Application Review process at the U.S. Nuclear Regulatory Commission (NRC).
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Areva
Areva S.A. was a French multinational group specializing in nuclear power, active between 2001 and 2018. It was headquartered in Courbevoie, France. Before its 2016 corporate restructuring, Areva was majority-owned by the French state through the French Alternative Energies and Atomic Energy Commission (54.37%), Banque publique d'investissement (3.32%), and Agence des participations de l'État (28.83%). Électricité de France, in which the French government has a majority ownership stake, owned 2.24%; the Kuwait Investment Authority owned 4.82% as the second largest shareholder after the French state.
As a part of the restructuring program following its insolvency, Areva sold or discontinued its renewable energy businesses and sold its reactors subsidiary Areva NP (which has reverted to its original name, Framatome) to EDF. Its nuclear propulsion and research reactors subsidiary Areva TA (now TechnicAtome) was sold to the Agence des participations de l'État and its nuclear cycle business was reorganized into a separate company New Areva (becoming Orano). A new holding, Areva S.A., was also created to act as a hive-off vehicle for Areva's ongoing “at-risk” activities, including the completion and delivery of the Olkiluoto 3 in Finland, execution of Areva's remaining renewable energy projects, and finalization of the sale of Areva NP to EDF.
In 2017, the sale of Areva TA was finalized and in January 2018, so was that of Areva NP, while New Areva was rebranded Orano; these developments marked the end of the Areva group.
Areva was created on 3 April 2001 by the merger of Framatome (later: Areva NP, now: Framatome), Cogema (later: Areva NC, now: Orano Cycle) and Technicatome (later: Areva TA, now: Technicatome). It was based on the structure of its precursor, CEA-Industrie. Anne Lauvergeon became its first CEO.
Jean-Pierre Raffarin, the former Prime Minister of France, announced the privatization of Areva in 2003, but it was postponed several times, the French government opting finally for the privatization of GDF and EDF. At the end of October 2005, French Prime Minister Dominique de Villepin announced that he had suspended the privatization process.
In 2003, Areva secured a contract for the Olkiluoto 3 project, which foresaw construction of the third generation EPR-type pressurised water reactor. In 2004 a contracted fixed price was established as €3.2 billion. Construction started in 2005.
In 2004, Areva acquired Alstom's transmission and distribution activities, which became Areva T&D. It was sold back to Alstom and Schneider Electric in June 2010.
On 15 September 2005, Areva and Constellation Energy of Baltimore announced a joint venture called UniStar Nuclear to market the commercial EPR in the United States. The joint venture later became UniStar Nuclear Energy in 2007. In 2010, EDF acquired 100% of UniStar Nuclear Energy. However these plans failed to come to fruition, and in February 2015 Areva suspended the EPR Design Certification Application Review process at the U.S. Nuclear Regulatory Commission (NRC).
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