SA News • Mon, Jul. 14
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Mon, Jul. 14, 11:41 AM
- Cameroon's government gives Electricite de France (ECIFF, ECIFY) the go-ahead to build an $850M hydroelectricity plant that will enable a five-fold increase in the country’s aluminum production.
- With barely more than 1K MW electricity output, Cameroon is building several hydro and thermal electricity structures to raise its power production to 3K MW by 2020; plans to improve the country’s industries have been hampered by limited energy output.
Nov. 7, 2013, 11:55 AM
- Veolia Environnement (VE +2.5%) moves higher after reporting its net financial debt stood at €9.6bn at the end of Q3 vs. €10.8B at the end of last year amid otherwise lackluster earnings results.
- Revenue for the first nine months of the year was €16.2B, down 1.9% Y/Y and in line with analysts’ expectations, but adjusted operating income rose 20.4% to €621M during the nine months.
- VE says the conclusion of talks under way with French electricity utility EDF (ECIFF, ECIFY) to divide Dalkia’s business would lead to VE taking over 100% of Dalkia’s international activities.
Oct. 28, 2013, 7:47 AM
- Electricite de France (ECIFF, ECIFY) and Veolia Environnement (VE) reportedly strike a deal over the ownership of their energy generation joint venture Dalkia, putting an end to a nearly two-year-old dispute.
- EDF would take over the French activities of Dalkia, while VE will take over the venture's international business; VE will pay €550M ($759M) to EDF as part of the deal.
Oct. 21, 2013, 4:54 AM
- As expected, the U.K. government has signed an agreement for Electricite de France (ECIFF) to build the country's first nuclear power station in almost three decades in a project that will cost £16B ($25.9B) and create 25,000 jobs.
- The construction of the plant, which will be located in south west England, is a major test over whether nuclear power has a future in Europe.
- The agreement also includes options to build another two reactors in the south-east of the country.
- EDF will own 45-50% of the venture, French engineering firm Areva (ARVCF) 10%, and two Chinese companies 30-40%.
- Nuclear-power equipment makers include AZZ (AZZ) and Babcock & Wilcox (BWC).
- Nuclear/uranium ETFs: NLR, NUCL, URA
Oct. 14, 2013, 7:38 AM
- Electricite de France (ECIFF.PK) is close to agreeing a deal with the British government for the French utility to construct and operate two nuclear reactors on the west coast of England at a cost of £14B ($22.4B).
- The sides have reached the elusive "strike price," or the guaranteed price at which EDF would sell the electricity it generates.
- The construction of the plant is a major test over whether nuclear power has a future in Europe.
- Nuclear/uranium ETFs: NLR, NUCL, URA
Oct. 11, 2013, 12:40 PM
- The U.K. government and Electricité de France (ECIFF.PK, ECIFY.PK) are nearing a £14B ($22.4B) deal that would see the French power giant build and operate a pair of nuclear reactors at Hinkley Point on the west coast of England, WSJ reports.
- Negotiations have dragged out over the issue of the strike price - the guaranteed price at which EDF would sell the electricity generated by the new nuclear plant - but sources say an agreement is near.
- The project is seen as a litmus test over whether the nuclear industry has a future in Europe at a time of lower gas prices and sluggish economic growth.
Jul. 14, 2013, 2:07 AMRio Tinto (RIO) has agreed to sell two money-losing French aluminum facilities to German group Trimet and Electricite de France (ECIFF.PK), which are acquiring 65% and 35% respectively. The sale is part of Rio's strategy of divesting non-core and/or unprofitable assets. The deal is a boost to France's attempts to keep major facilities open and save jobs, with the new owners intending to invest €200M to modernize the installations. | Comment!
Feb. 12, 2013, 9:40 AMAny plans the U.K. had for building new nuclear plants appear to be in trouble, as a standoff over a guaranteed electricity price shows no sign of ending. In a setback for plans to replace aging coal-burning and nuclear plants, the disagreement between the U.K. government and Electricite de France likely will further delay a decision to build the much-needed plants until at least the summer. | 3 Comments
Jan. 15, 2013, 2:51 PMTwo consortia led by French power group Electricite de France and financial firm Caisse des Depots are the two final bidders for Total's (TOT) gas storage unit TIGF, WSJ reports. TIGF was put up for sale by TOT last fall as part of a strategy to sell as much as €20B ($26.7B) in assets by 2015 to help boost cash flow and finance major investments; TIGF is valued at €2.5B-€3B. | Comment!
Nov. 15, 2012, 9:19 AMEuropean energy companies with minority stakes in Russia's Gazprom-led South Stream natural gas pipeline can exit the project if certain conditions aren't "satisfied in the future," according to the company managing the construction of the underwater part of the project. Minority partners include Eni (E), BASF and Electricite de France. | Comment!
Dec. 27, 2011, 5:01 AM
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