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Areva suspends raft of nuclear power projects
Areva suspends raft of nuclear power projectsGreenpeace urges UK to rethink plans for new fleet of nuclear reactors as French firm confirms huge losses
By BusinessGreen staff
One of the world's leading nuclear power developers, Areva, has today confirmed a major reorganisation that will see a series of projects suspended in the wake of significant financial losses.
The company announced yesterday that operating losses for this year could reach €1.6bn, primarily as a result of the Fukushima disaster on the value of its uranium mining operations.
The news was followed today by confirmation that Areva will suspend planned "capacity extensions" at four nuclear sites in France, halt work to extend its Eagle Rock enrichment plant near Idaho Falls in the US, and scale back planned investment at uranium mines in the Central African Republic, Namibia and South Africa.
The company plans to cut new capital investment to €7.7bn between 2012 and 2016, a reduction of around a third on investment over the previous five years.
In addition...
http://www.businessgreen.com/bg/news/2131977/areva-suspends-raft-nuclear-power-projects