Constellation Energy closes Unistar deal with EDF Baltimore company no longer in new nuclear business

A deal to transfer Constellation Energy Group's stake in a nuclear development company to its French partner, EDF Group, closed Wednesday, according to documents filed Thursday with the Securities and Exchange Commission.

Last month, Constellation agreed to sell its 50 percent stake in Unistar Nuclear Energy to EDF for $140 million, giving EDF sole ownership of the joint venture and its plans to develop a third unit at Calvert Cliffs in Southern Maryland.

The deal called for EDF to transfer 3.5 million shares it owns, valued around $110 million, to Constellation and give up its seat on the Constellation board. EDF designee Samuel Minzberg has resigned.  More at:
http://www.baltimoresun.com/business/bs-bz-constellation-edf-deal-closes-20101104,0,5438442.story

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TVEL in Ukraine Venture

TVEL, Rosatom’s nuclear fuel monopoly, agreed Wednesday to form a joint venture with Ukraine to build a uranium-processing plant there.
The plant will have capacity to process 400 metric tons of uranium a year and may start operating in 2013, according to a statement distributed by the Russian government at the signing ceremony in Kiev.
Ukraine will hold 50 percent plus one share, according to the statement, and the plant will produce fuel for Ukraine’s VVER-1000 reactors. TVEL agreed to transfer nuclear fuel technology to the Ukraine venture by 2020, the statement said. A site is not yet selected.
http://www.themoscowtimes.com/business/article/tvel-in-ukraine-venture/421285.html

Bhel in JV with NPCIL & Alstom for N-plant

New Delhi: State-owned Bharat Heavy Electricals Ltd will soon set up a joint venture with Nuclear Power Corporation of India Ltd and Alstom Ltd for setting up civil nuclear power plants in the country, Heavy Industries secretary Bhawani Singh Meena said on Thursday.
All the three companies will have 33.33% equity each in the joint venture, which would get approval from department of atomic energy within a month, Meena said.
The investment details are being worked out, Meena said, adding the joint venture was conceived a couple of years ago but government was awaiting the passage of nuclear liability Bill for the joint venture to take off.
The bill was passed in last monsoon session of Parliament.
Currently, nuclear power plants can be set up only by Nuclear Power Corporation of India.
Alstom, a French company, is a global major involved with manufacture of power equipment. The company would be technology partner in the joint venture.

(India)http://www.financialexpress.com/news/Bhel-in-JV-with-NPCIL---Alstom-for-N-plant/686729/

IHI, Toshiba Finalize Details On Nuclear Turbine Components Joint Venture

Toshiba and IHI have ironed out the details of a joint venture for manufacturing steam turbine parts for nuclear facilities in Japan and abroad. IHI will hold 52% in the partnership, while Toshiba will control 48%. Nikkei Business Publications/Dow Jones Newswires
http://e.nikkei.com/e/fr/tnks/Nni20100723D23JF635.htm

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