(Source: Datamonitor)
French utility EDF has welcomed the decision of the board of directors of its partner Constellation Energy to approve moving forward based on the conditions set forth in the order issued by the Maryland Public Service Commission with respect to the creation of a nuclear joint venture between EDF and Constellation Energy.
Approval from the Maryland Public Service Commission completes the regulatory review process, and the companies now have received all necessary approvals at the federal and state levels to proceed with the transaction. EDF and Constellation Energy will complete the transaction without modification to the previously agreed terms of the transaction.
EDF has said that it will commence the process to enable the close of the transaction, for which it has already received the authorization of its own board of directors. The consummation of the transaction is the result of a partnership between EDF and Constellation Energy that began over two years ago.
Pierre Gadonneix, chairman and CEO of EDF said: "EDF, the world's largest operator of nuclear generation, is eager to enhance its presence in the US, the largest market in the world.
"EDF looks forward to operating and developing nuclear power plants in the US, where the group is already active in the development of renewable energy (enXco, a subsidiary of EDF Energies Nouvelles), trading (EDF Trading North America), and the nuclear renaissance (via Unistar Nuclear Energy)."
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