Word: areva
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...clean technologies, energy companies have banded together to form three separate consortiums, each of which has been granted early site permits. These consortia carry the technical expertise and solid credibility of established U.S. and international organizations, including players such as General Electric, Constellation Energy, Westinghouse Electric, EDF Energy, AREVA, Bechtel Corporation, and Duke Energy...
...project has also raised questions about Lauvergeon's management style. Critics accuse her of being better at selling big projects than at executing them. Some suggest her refusal to reconfigure the joint venture with Siemens to give it a direct stake in Areva ultimately convinced the Germans that they could do better with another partner...
...other big problem is money. Areva needs about $14 billion to finance its business for the next several years--and $2.8 billion more to buy Siemens' joint-venture stake. One plan calls for the state to sell 15% of Areva to new investors. Areva also plans to sell off its shares of a number of smaller French companies as well as T&D, an energy-transmission affiliate that it bought for close to $1 billion in 2004, which is now valued at nearly $5 billion and accounts for 20% of the company's profits...
...focusing on its latest reprocessing technology, which produces less waste, Areva aims to capture one-third of the new reactor construction market by 2030. That will be increasingly difficult because competition is heating up. Siemens now looks set to form a partnership with Rosatom, the industry's second biggest firm. And China's push for nuclear plants means there will probably soon be competition from there...
...this supply-driven nuclear summer, Areva may even be able to profit from its setback in Finland. In an industry where experience is everything, making mistakes first may just help Areva stay...