Tech & Science Turbines Arabelle: General Electric and EDF agree on the sale price

14:13  12 january  2022
14:13  12 january  2022 Source:   challenges.fr

nuclear. The stop of a reactor of the three-month prolonged Chooz power plant by EDF

 nuclear. The stop of a reactor of the three-month prolonged Chooz power plant by EDF © Francois LA Presti / AFP the Chooz nuclear power plant, in the north of France, in May 2017. France will not benefit This winter of electricity reactor number 2 of the Chooz plant, announces EDF Thursday, January 6, 2022. There would be a fault on the piping portions of the safety injection circuit.

Belfort © SP Belfort The American conglomerate, which for two years wishes to separate from its activity of steam turbines (ex-alstom), has fallen. Agreement with the tricolor energetician who will disburse a little over a billion euros to acquire this strategic entity that manufactures nuclear turbines.

It's only a question of days. According to several sources contacted by Challenges, General Electric (GE), which has been desired for two years to separate from its steam turbine activity (ex-Alstom), has finally agreed with EDF on the selling price that should slightly Exceed billion euros. The formalization of the assignment of this strategic entity that manufactures nuclear turbines should intervene by the beginning of February on the occasion of the Venue in France of the GE CEO, Larry Culp. "EDF and GE are OK on the price, there are only tiny details to be addressed regarding the perimeter of the acquisition", specifies a familiar with the file. In parallel, GE mandated the ExperConnect consulting firm at the beginning of the year to identify and reflect on the GE Steam Power positions (the entity of the steam turbines) which would not be taken up by EDF.

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Since the controversial surrender, in 2014 , from the energy center of Alstom to GE, supported at the time by Emmanuel Macron who was Deputy Secretary General of the Elysee (2012-2014), then Minister of the Economy (2014 -2016), this subject is explosive. While in seven years, the American giant has removed 5,000 positions in the hex of which 1,200 in Belfort , the Elysee and Bercy have been working for months to this operation. "The need to strengthen our strategic sectors and industry, that the pandemic has come to forcefully remind us to this capital redemption, entrusts a ministerial source. In the summer of 2020, the Elysee decided to move to speed. Superior asking EDF to retrieve this activity. "

Macron also expected in Belfort

The French energy was not initially favorable to this operation. He wanted to pay less than a billion euros for a valued division 1.5 billion when buying by GE. One of the stumbling points concerned the fact that GE intended to improve its assets and its order book. Or EDF did not want to pay twice, as a customer, then as a buyer. Given the amount of the check that prepares to pay the tricolor group, it is not said that he has totally got what he wanted. "The negotiation has been long but somewhere everyone knew its outcome, continues the connoisseur of the aforementioned file. GE really wanted to sell and really buy."

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The latter, holder of more than 80% of EDF, does not, however, realize a bad deal, the nuclear market being very dynamic. While the turbine controls for thermal power plants have fallen due to the decline of coal, nuclear power has shown most of the recent controls of the STEAM branch. This has been doped by the Hinkley Point megaproject, which should report $ 1.9 billion to GE, and by the commercial success of the Russian giant Rosatom, with which GE collaborates for the Akkuyu plants, in Turkey, and PAKS, in Hungary. The realization of this very political record is in any case expected from foot firm in the Élysée where we have been preparing for long months a displacement of the head of state to Belfort to celebrate the "French reconquest French."

Electrovan with wheel hub drive - Indigo flow in two variants .
The American start-up Indigo Automotive has presented the Indigo Flow on the CES 2022, an electrovan with wheel hub drive. © Indigo Technologies The American start-up Indigo Technologies has presented an electric van in two variants as part of CES 2022. Indigo Flow is called the version for the commercial passenger transport, for example in the context of a ride-sharing offer. The van is called Indigo Flow Plus. The driver sits in the middle of the vehicle.

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