On 15 August, 2012, AREVA inked an integrated agreement with Emirates Nuclear Energy Corporation (ENEC) in order to supply enriched uranium. The value of this contract is more than €400 million.
Under the terms of the contract, AREVA will supply enriched uranium to the future nuclear plants that are being constructed at Barakah in the United Arab Emirates. The supply period will be for eight years.
The nuclear program to be conducted in UAE is intending to commission the first two reactors out of four in 2017 and 2018. Regulatory approval is pending.
According to AREVA’s President and CEO, Luc Oursel, the company is happy to secure this contract, which is a critical part of commissioning the first nuclear power plants of ENEC. The advanced-phase of uranium deliveries will promote a continuous supply of fuel to the UAE. This latest achievement shows that the combined offer from the Group for the nuclear cycle’s front end is of significant interest to firms that generate electricity. (DOUBT)
The four nuclear power plants may become operational by 2020; therefore nuclear energy should be able to meet up to 25% of the electricity demands in UAE. It is estimated that the requirement for nuclear energy may reach 40 GWe in 2020, when compared to 15.5 GWe at present.
AREVA provides solutions for generating power with low carbon content. Its exclusive integrated product offering to utilities covers each phase of the fuel cycle, design and building of nuclear reactor and associated services. In addition, the company extends its operations to renewable energies, including bioenergies, solar, wind, hydrogen and storage.
Source: http://www.areva.com/