EDF in Talks to Buy GE’s Nuclear Turbines Unit

EDF in Talks to Buy GE’s Nuclear Turbines Unit

Bloomberg and Seeking Alpha report that Electricite de France is in preliminary talks to buy the General Electric unit that makes and maintains turbines for nuclear power stations.

“GE being one of EDF’s key partners in the nuclear business, EDF is currently analyzing conditions under which the interests of the EDF Group would be best served,” the French state-controlled utility said. “There is no certainty regarding the outcome of this work and of these exploratory discussions.”

GE bought the Steam Power unit as part of its 2015 acquisition of Alstom’s power business, which helps maintain key parts of France’s 56 atomic plants.

For GE, which confirmed the discussions, a sale of that business would help it focus on gas turbines and renewable energy. The Boston-based company said last year it planned to stop selling equipment to new coal-fired power plants, a market dominated by suppliers from China and elsewhere in Asia. Shares have risen 12% this year through Tuesday’s close.

For EDF, the purchase would give it greater oversight over maintenance and turbine supply in the construction of nuclear plants in France and abroad.



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