News

Constellation selling nuclear business to EDF

Alexander Richter 18 Dec 2008

Constellation Energy Group Inc. agreed this week on selling nearly half of its nuclear power business to Electricite de France SA for US$4.5 billion. This means an end of a takeover of Constellation through Warren Buffett's MidAmerican Energy.

Constellation Energy Group Inc. agreed this week on selling nearly half of its nuclear power business to Electricite de France SA for US$4.5 billion. This means an end of a takeover of Constellation through Warren Buffett’s MidAmerican Energy.

This means strong inroad into the U.S. for the France based largest nuclear utility in the world.
What this means to the rest of Constellation’s power generation assets will be interesting to see. Currently Constellations assets are 65% Nuclear, 35% Coal, Gas & Oil and 4% Renewables.

The company runs 5 geothermal power generation units in California and Nevada. In California the company has the plants at Mammoth Lakes (G-1, G-2 and G-3) with together 16 MW, Soda Lake with 4 MW, as well as Soda Lake I with 7 MW in Nevada.
Source: Calgary Herald, Company website.