Mitsubishi Heavy Industries (MHI) is considering investing in France's Areva NP, the nuclear power plant-building arm of the Areva group, having already formed a partnership with parent company Areva SA. MHI said in a statement it is in talks over the possibility of investing in the Areva subsidiary, but added "no decision has been made so far".
The request for investment came from Areva and power utility Electricite de France (EDF), The Nikkei reported, quoting informed sources. MHI is expected to start negotiations soon but is reportedly cautious, given Areva's poor business performance. Areva suffered its fourth consecutive annual net loss in the year ended last December.
At the end of July, EDF agreed to take a stake of 51-75% in Areva NP. EDF's holding will be at least 51%, while Areva's stake will not exceed 25%. The remaining stake would be held by companies possibly include MHI, which has been partnering Areva in the development and marketing of Atmea pressurized water reactors.