The acquisition will create a global steam turbine equipment and services provider within the EDF group, the statement said.
Under the deal, EDF is seeking to acquire GE Steam Power’s conventional island equipment for new nuclear plants and part of the services business for existing plants.
The deal means EDF would have exclusivity in the purchase of part of GE’s nuclear activity known as “Steam Power”, which includes existing Arabelle steam turbine technology and also technology for future nuclear plants including the next generation of European Pressurised Water Reactors – the EPR2 – and small modular reactors.
The deal was announced on the same day France’s president Emmanuel Macron unveiled plans to relaunch the country’s commercial nuclear programme with the construction of at least six new nuclear power reactors – and the possibility of eight more for a total of 14 – if he is reelected in elections in two months.
Mr Macron made the announcement at the factory in Belfort where the Arabelle turbines are made. The turbines were formerly produced by Alstom, which was sold to the GE in 2015 when Mr Macron was economy minister.
According to GE, its nuclear steam turbines are installed in half of the world’s reactor fleets, including in all of EDF’s nuclear plants in France.
GE said it would still retain Steam Power’s services business in the Americas region and GE Hitachi Nuclear Energy, the company’s reactor equipment manufacturer and supplier.
The acquisition will impact activities in about 15 countries, with 70% of the workforce being in France, including at GE Steam Power manufacturing sites like Belfort and La Courneuve, the statement said.
The two companies did not disclose any information about the value of the proposed acquisition.
The deal is expected to be completed in the first half of 2023.
