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EDF contemplating choices over its 80 p.c stake in UK nuclear crops

PARIS (Reuters) – French state-controlled energy group EDF (EDF.PA) stated on Wednesday it was contemplating its choices concerning Britain’s nuclear crops, including that it needed to maintain a majority stake.

The brand of Electricite de France SA (EDF) is pictured on the World Nuclear Exhibition (WNE), the commerce truthful event for the global nuclear neighborhood in Villepinte close to Paris, France, June 27, 2018. REUTERS/Benoit Tessier

The Sunday Times had reported over the weekend that China General Nuclear (CGN) was in early-stage talks with EDF Energy and its associate Centrica (CNA.L) about buying a share of as much as 49 p.c in Britain’s fleet of eight energy stations.

Centrica itself had stated in June it deliberate to promote its 20 p.c stake within the UK nuclear energy crops by the top of 2020.

“Following Centrica’s announcement of its intention to sell its 20 percent stake in EDF Energy’s operating nuclear fleet by 2020, EDF is currently taking steps to support this process and considering different options – while remaining committed to maintain control and majority ownership of the asset,” EDF stated in an announcement on Wednesday.

“No decision regarding a potential minority sell-down of its stake has been taken yet,” added the French company.

EDF’s British business EDF Energy owns and operates 15 nuclear reactors in eight nuclear energy stations with a complete capability of eight.9 gigawatts, which generate about 20 p.c of Britain’s electrical energy.

Since 2009, Centrica has held a 20 p.c stake in Lake Acquisitions Ltd, which holds EDF’s working UK nuclear era belongings however not its nuclear newbuild tasks.

Reporting by Geert de Clercq; Editing by Sudip Kar-Gupta


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