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Written by / Agency / Source: AREVA

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AREVA Sets Up An Innovative Financing Scheme in Nuclear for the Georges Besse 2 Enrichment Plant - AREVA finalized a financing project for SET (Société d’Enrichissement du Tricastin), which owns and runs the Georges Besse 2 enrichment plant - AREVA.com
AREVA Sets Up An Innovative Financing Scheme in Nuclear for the Georges Besse 2 Enrichment Plant

 

NewswireToday - /newswire/ - Paris, Ile-de-France, France, 2014/06/30 - AREVA finalized a financing project for SET (Société d’Enrichissement du Tricastin), which owns and runs the Georges Besse 2 enrichment plant - AREVA.com.

   
 
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A loan of €650 million over 10 years has been set up with support from a group of 10 international banks.

The financing is underpinned by future revenues from the Georges Besse 2 plant, which have been secured thanks to a large long-term backlog. The ramp-up of the plant, whose construction began in 2006, continues in line with the original schedule, with an installed capacity of 84% as of the end of May 2014. When running to full capacity, the plant will produce enough enriched uranium to supply 70 reactors with nuclear fuel.

This new structure enables AREVA to benefit from favorable financing conditions while retaining access to the cash generated by plant activity.

The success of this operation involving a large number of partners shows that the financing of industrial nuclear projects can be an attractive prospect for the banking sector. It makes it possible for AREVA to diversify its sources of finance without any impact on the average duration of its debt.

“The fact that several large banks have shown a strong interest in financing the Georges Besse 2 plant demonstrates that they recognize the quality of this industrial project and have confidence in the future of the nuclear market. The innovative nature of this limited recourse financing scheme, applied for the first time to an AREVA nuclear asset, opens up development potential for nuclear activities,” declared Luc Oursel, Chief Executive Officer of AREVA.

 
 
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Written by / Agency / Source: AREVA

 
 

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AREVA Sets Up An Innovative Financing Scheme in Nuclear for the Georges Besse 2 Enrichment Plant

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AREVA | Georges Besse 2
Publisher Contact: Press Office - AREVA.com 
+33(0)1 34 96 12 15 tradepress[.]areva.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any AREVA securities in any jurisdiction including any other companies listed or named in this release.

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