September 25, 2008

Areva and Duke Energy to Develop Biomass Power Plants in US

Areva and Duke Energy have announced the formation of Adage, a joint venture dedicated to the development of green biopower energy solutions for US electricity customers.

Adage will facilitate the development of biopower plants that will use wood waste to produce electricity.

According to the agreement, Areva will design and build biomass power plants. Duke Energy Generation Services (DEGS), a commercial power business unit of Duke Energy that owns and develops renewable energy, will manage operations.

For each project, Adage also will negotiate power purchase agreements and fuel contracts, and secure suitable sites. Hence, Adage will provide customers a fully integrated solution, said Duke Energy.

Anne Lauvergeon, CEO of Areva, said: "Areva is strongly committed to renewables as part of its strategy to provide its customers with innovative, environmentally friendly sources of energy. Areva has extensive experience in the biomass sector, having designed and built more than 100 biopower facilities in Europe, Asia and South America with capacity of more than 2,500MW."