September 10, 2008
EDF Increases Stake in Constellation Energy
The EDF Group has increased its stake in the US-based power generator Constellation Energy Group from 4.97% to 9.51%, through the acquisition of shares on the market.
This transaction follows an agreement between EDF and Constellation Energy, signed in July 2007, relating to the creation by the two companies of Unistar, an equally owned joint venture set up to build and develop nuclear power stations using European pressurized reactor (EPR) technology in the US.
Pierre Gadonneix, EDF's CEO, said: "This increase in EDF's stake in Constellation Energy is a reflection of the group's commitment to the revival of nuclear generation in the US, the intention being at first to construct, operate and invest in four EPR power stations."