A framework agreement for the joint venture between Areva and MHI to develop and market their new mid-sized nuclear reactor has been reached with the signing of a memorandum of understanding.

Since October 2006, the two companies have worked to define the conceptual bases on which the future advanced reactor will be developed. The main features of the reactor were agreed in April: an advanced generation 3, pressurised water, 3 loop reactor with a power of around 1100 MWe. It will integrate features such as the possibility of extended fuel cycles and capacity to use MOX fuel.

The two expect to finalise the joint venture agreement by the end of September.