Areva Suspends Financial Targets, EDF Confirms Flamanville-3 Delays

Posted by NucNet on 21 November 2014 in NucNet

Plans & Construction

French nuclear group Areva has suspended its 2015 and 2016 financial targets, blaming delays to the Olkiluoto-3 EPR project in Finland, the slow restart of Japan’s reactors and a lacklustre nuclear market.

Meanwhile today, EDF said the Flamanville-3 EPR being built by Areva in Normandy, France, has been delayed, with commercial operation put back from 2016 to 2017.

Areva, about 87 percent owned by the French state, said the new schedule for the completion of Olkiluoto-3 for Finnish utility Teollisuuden Voima Oyj (TVO) and the inability to adapt “the pace of payments” with the customer, had consequences on cash flow for 2015 and beyond.

Full report in NucNet Database: News No. 361, 19 November 2014.