GE and EDF have signed the binding agreement related to EDF’s acquisition of GE Steam Power’s nuclear activities. These activities include the manufacturing of conventional island equipment for new nuclear power plants including the Arabelle steam turbines as well as maintenance and upgrade activities for existing nuclear power plants in all regions other than the Americas. The transaction also includes steam turbine technology for future nuclear plants, like the next generation of European pressurized reactors (EPR2) and small modular reactors (SMRs).
This agreement advances the process that began with the exclusive agreement signed in February. This acquisition will enable EDF Group to strengthen the technologies and skills around the conventional island which are essential for the maintenance of the existing nuclear fleet and future projects. The transaction is expected to close in the second half of 2023 and is subject to customary closing conditions including regulatory approvals.
Image: The Arabelle turbine (courtesy of GE)
