GE wants to invest in Areva transmission division

Paris, October 1, 2009 — GE promised long-term investment at French nuclear group Areva’s power transmission and distribution unit after being chosen as a possible buyer.

GE said it wants to create a Paris-based world leader in technology that holds operations worldwide.

Areva selected three potential buyers for its T&D division, which could be worth as much as between $7.3 billion.

The two other offers came from Japan’s Toshiba and French companies Alstom and Schneider Electric.

Bids will be assessed in the sale process’ second phase, which ends in early November, after which Areva hopes to have one or more binding offers. Areva, which is owned almost entirely (91 percent) by the French government, plans to sell the unit as part of a $16 billion financing plan that also includes a capital increase.

Previous articleBig Solar, Small Footprint: The Role Innovative Technologies Play in our Energy Future
Next articleSolar Energy Initiatives creates spin off of solar park company

No posts to display