Creation
Areva was created on 3 April 2001 by the merger of Framatome (later: Areva NP, now: Framatome), Cogema (later: Areva NC, now: Orano Cycle) and Technicatome (later: Areva TA, now: Technicatome). It was based on the structure of its precursor, CEA-Industrie. Anne Lauvergeon became its first CEO.[5][6]
Jean-Pierre Raffarin, the former Prime Minister of France, announced the privatization of Areva in 2003, but it was postponed several times, the French government opting finally for the privatization of GDF and EDF. At the end of October 2005, French Prime Minister Dominique de Villepin announced that he had suspended the privatization process.
In 2003, Areva secured a contract for the Olkiluoto 3 project, which foresaw construction of the third generation EPR-type pressurised water reactor. In 2004 a contracted fixed price was established as €3.2 billion. Construction started in 2005.[7]
In 2004, Areva acquired Alstom's transmission and distribution activities, which became Areva T&D. It was sold back to Alstom and Schneider Electric in June 2010.[8]
On 15 September 2005, Areva and Constellation Energy of Baltimore announced a joint venture called UniStar Nuclear to market the commercial EPR in the United States.[9] The joint venture later became UniStar Nuclear Energy in 2007. In 2010, EDF acquired 100% of UniStar Nuclear Energy.[10] However these plans failed to come to fruition, and in February 2015 Areva suspended the EPR Design Certification Application Review process at the U.S. Nuclear Regulatory Commission (NRC).[11]
In 2006, Areva created its renewable energies business group.[12] Creusot Forge and Creusot Mécanique merged into the Areva group,[13][14] even though there were quality concerns over Creusot Forge's work.[15] In 2007, Areva purchased 51% of offshore wind turbine manufacturer Multibrid.[16] Multibrid has been a start-up and German offshore wind pioneer, producing wind turbines in Bremerhaven. The innovative M5000 wind turbine has a compact medium speed drive train and carbon rotor blades. The patented air treatment to prevent corrosion was unique. The turbine was designed by aerodyn Energiesysteme GmbH. In 2015 the renewable unit of Areva changed into ADWEN GmbH.
In June 2010, Areva purchased the remaining 49% and formed Areva Wind. In February 2010, Areva bought Ausra, and renamed it Areva Solar.[17][18]
In 2007, Areva purchased UraMin, which later became Areva Resources Southern Africa (now part of Orano).[19]
In 2007, Areva started construction of the Flamanville 3 EPR reactor. In addition, in November 2007 Areva agreed to an €8 billion deal with the China Guangdong Nuclear Power Group to supply them with two EPRs for Taishan Nuclear Power Plant.[20][21] Under the terms of the agreement, Areva also had to help operate the plant, including the reprocessing of spent fuel.[22] Also in 2007, Areva and Mitsubishi Heavy Industries created a joint venture named Atmea to develop a 1,100 MWe Atmea-1 pressurised water reactor (Generation III reactor).[23] In 2009, Siemens sold its remaining shares of Areva NP and Arvea NP became wholly owned by Areva. At the same year, Areva NP acquired 30% stake in the Mitsubishi Nuclear Fuel company.[23]
On 6 May 2008, Areva announced that it would seek all necessary approvals to build an enrichment facility in Bonneville County, Idaho.[24] The project was later cancelled. Also in 2008, Areva was awarded an operations contract to clean up the Sellafield nuclear reprocessing site as part of the Nuclear Management Partners consortium, made up of URS, Amec and Areva.[25]
In June 2008, Areva reached an agreement with Kazatomprom to create a joint-venture Katco.[26]
On 4 February 2009, Areva signed a memorandum to supply two to six nuclear reactors to the Nuclear Power Corporation of India Limited for the Jaitapur Nuclear Power Project in the Indian state of Maharashtra.[27][28]
In March 2010, Areva indicated work was being done on a new type of burner reactor type capable of breaking down actinides created as a product of nuclear fission.[29]
In 2011, Areva was listed on the Euronext stock exchange in Paris.
Post-Fukushima problems
In December 2011, Areva suspended building work at several sites in France, Africa and the United States, one day after forecasting a €1.6 billion ($2.1 billion) loss. Areva halted "capacity extensions" at its La Hague Reprocessing Plant, in northern France, at its Melox factory in the southwest, and at two sites attached to its Tricastin power plant in the south. Work has also stopped on extensions to uranium mines in Bakouma in the Central African Republic, Trekkopje in Namibia, and Ryst Kuil in South Africa,[30] and caused a potential delay in construction until a capital solution is secured for the Eagle Rock Enrichment Facility in the United States.[31] Areva wrote off most of the $2.5 billion purchase cost of Canadian uranium mining company Uramin, purchased in 2007, after concluding that its uranium ore deposits were of negligible value.[32]
In September 2014 Standard & Poor's stated it might downgrade Areva's credit rating following weak first-half results, leading to Areva indicating it would cut capital spending and dispose of some assets.[33]
