This solid industrial partnership gives new impetus to NuGeneration Ltd (NuGen), which was created to develop a new nuclear power plant on the West Cumbria coast in Northwest England. The plant will be built utilizing Westinghouse AP1000 technology and will achieve a capacity of 3,400 MW. The terms of the agreement provide for Toshiba to own 60% of NuGen along with GDF SUEZ, shareholder with a 40% stake who will bring its extensive nuclear plant operatorship experience. The choice of the AP1000 technology aligns with UK Government’s ambition to see a diversity of technologies in the new nuclear programme.
On the occasion, Gérard Mestrallet, Chairman and CEO of GDF SUEZ, stated: “The signing of this agreement is an essential step in the pursuit of the development of our nuclear programme in the United Kingdom. It reflects our strong ambition in the nuclear field and confirms our strategic decision to promote a diversified, balanced, and low-carbon energy mix where nuclear power has its place. With this project’s continuation and our recent international success in Turkey, GDF SUEZ confirms its position as a top-flight nuclear operator, offering the best suited technologies to the local circumstances of each country.”
GDF SUEZ, a leading player in the global revival of nuclear power
In 2013, GDF SUEZ was chosen by the Turkish authorities, alongside Mitsubishi Heavy Industry, Itochu and EÜAŞ, to build four ATMEA1 nuclear reactors for a capacity of 4,400 MW at Sinop. Site feasibility studies and assessment of preconditions from the financial, economic, legal and regulatory perspectives are necessary steps for the Group to commit on the long term it in the project as co-investor and joint operator with its Japanese and Turkish partners. ATMEA1 is a 1,100 MW reactor designed by AREVA and Mitsubishi in a 50/50 joint venture.
GDF SUEZ is committed to the development of nuclear energy of the future and intends to remain a leading player in the revival of nuclear power in the numerous countries where its development is projected. The Group is actively involved in the sector’s technological developments and, based on very high safety, financial, regulatory compliance and contract stability criteria, maintains selective contacts with programs underway.
GDF SUEZ, a longstanding European nuclear energy operator
With installed power capacity of 6,000 MW, GDF SUEZ is the leading nuclear operator in Belgium where, through its Electrabel subsidiary, the Group owns and operates seven reactors at Doel and Tihange.
As a pioneer in European nuclear energy, and with the development of Belgium’s first pressurized water reactor, GDF SUEZ is one of the few nuclear energy players to master the industry’s expert skills from upstream (engineering, procurement, operation, maintenance), to downstream (nuclear waste management and dismantling).
About GDF SUEZ
GDF SUEZ (gdfsuez.com) develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: independent power production, liquefied natural gas, renewable energy and energy efficiency services.GDF SUEZ employs 138,200 people worldwide and achieved revenues of €82 billion in 2012. The Group is listed on the Paris, Brussels and Luxembourg stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).
Investor Relations contact:
T: +33(0)1 44 22 66 29 - E: ir[.]gdfsuez.com