AREVA and MHI confirm fast progress of their alliance - New reactor design on track
FINANCE / REACTORS ET SERVICES
April 11, 2007
Tokyo, April 11, 2007 - AREVA, the world's largest business group in the nuclear energy field, and Mitsubishi Heavy Industries, Ltd. (MHI) confirm the fast deployment of their alliance in the nuclear energy area, as established last October.
Anne Lauvergeon, CEO of AREVA, and Kazuo Tsukuda, President of MHI met today in Tokyo to review the progress of the work carried out between the teams of the two groups. They noted in particular that the initial conceptual design phase of their new joint advanced reactor was moving forward according to schedule, and should be completed by early summer.
Since October 2006, AREVA and MHI teams have worked together to define the conceptual bases on which the future advanced reactor will be developed. They have agreed on the main features of this reactor: an advanced generation 3, pressurized water, 3 loops reactor with a power of around 1100 MWe. It will integrate the latest features already adopted by AREVA and MHI in terms of safety (resistance to commercial airplane crashes for instance), environment (reduced spent fuel and waste) and efficiency (possibility of extended fuel cycles and capacity to use MOX fuel for instance).
This reactor is designed to address the specific markets where such size of reactor will better fit the grid or the demand pattern.
AREVA CEO Anne Lauvergeon noted, "The first discussions between our two groups have demonstrated how close we are in our vision and technical approach. The progress made so far bodes well for the future and confirms the rightness of the mutual choice as partners in this new endeavour."
MHI President Kazuo Tsukuda stated, "After a very focused conceptual design phase, we will enter into the basic design phase of the reactor this July, with an objective of having it ready for licensing in a record-short timing. This is clearly made possible by the know-how mastered by our two groups, and by the synergies and shared resources that are and will be provided through the alliance."
Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world’s leading heavy machinery manufacturers, with consolidated sales of 2,792 billion yen in fiscal 2005 (year ended March 31, 2006). MHI’s diverse lineup of products and services encompasses shipbuilding, power plants, chemical plants, environmental equipment, steel structures, industrial and general machinery, aircraft, space rocketry and air-conditioning systems.