The plan is a part of the company’s effort to enhance safety and reliability of nuclear power facilities based on the development of the latest nuclear reactor by an already initiated MHI-Areva NP joint venture.
Électricité de France (EDF), which signed a deal in August with Areva to acquire up to 75% in Areva NP, announced about seeking partners for selling minority stake in the unit.
However, EDF expects to retain the entire 75% stake upon failing to find suitable joint venture partners.
The divestment of Areva NP is a part of Areva’s plan to settle its financial obligations by 2017.
Following signing of a JV deal in the fuel cycle business in 1991, MHI and Areva entered into another agreement in 2006 for expanding their collaboration in the nuclear energy field.
In 2007, MHI and Areva NP had created a 50:50 JV, ATMEA. The new firm developed ATMEA1, a pressurized water reactor (PWR) in the 1,100MWe class.
Additionally, MHI supports EDF Energy through orders for a total of 15 replacement steam generators for EDF operated nuclear power plants in France since 2005.
MHI president and CEO Shunichi Miyanaga said: "Through the years MHI, EDF and AREVA have enjoyed favorable relationships of cooperation applying their respective technologies, and I have high expectations that an investment by MHI into AREVA NP would realize and strengthen the ties between the Japanese and French nuclear energy industries further, which in turn will enable us to contribute to the improvement of the quality of nuclear power plants around the world."
