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A World to Conquer for French Technology

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A World to Conquer for French Technology NuclearNuclear Special special Titel A world to conquer for French technology As the main shareholder in the leading companies in the nuclear industry, the French government calls the nuclear shots, even appointing the managers at the top nuclear companies. President Nicolas Sarkozy’s strategy is to ‘conquer the world’ with French nuclear technology. | by Yves de Saint Jacob At 9 p.m. on January 29, a short statement Italian utility Enel, standing on a stage director Patrick Kron is here too. He has is made from the Elysee Palace, the seat of decked out with the French tricolour and never disguised his wish to merge with (or the French presidency. President Sarkozy the European Union fl ag, Sarkozy spells swallow up) Areva, which doesn’t exactly announces the imminent construction of out the main points in France’s energy make him Anne Lauvergeon’s favourite a second EPR (European Pressurised Water strategy. ‘There is a world to conquer’, companion. In addition, the audience Reactor), the third generation nuclear he announces, confi rming the revival of includes engineers from the nuclear reactor of original French-German design. nuclear power in France. industry and the workers, along with It will be built at Penly in Normandy. The Looking on are EDF managing director their union representatives. In France, the project will be run by EDF, the French Pierre Gadonneix and Anne Lauvergeon, powerful CGT union has always been a public electricity supplier. GDF-Suez, chairwoman of Areva, the company which part of the “nuclear family”. This kind of get-together is enough to make the hair of the civil servants in Brussels It was important to demonstrate to the outside stand on end. In France, it is part of a world that France had confi dence in the EPRs long tradition: the state runs the nuclear industry. President Sarkozy, having promised an omnipresent presidency, has full personal authority over the sector and the new French energy giant in which designed the EPR and produces nuclear fully intends to exercise it. the State holds a sizable share, will get a fuel. Also in attendance is Martin Bouygues, His general strategy is by now quite minority stake in the EPR. The statement managing director of the company which clear. Energy, and nuclear energy in also mentions the possibility of building a bears his name, the leading player in particular, will be the driving force of third EPR, for which the majority might go the construction industry involved in French industrial policy, particularly to GDF-Suez. But that decision has yet to public works. Bouygues is also the major in terms of exports. It is the third time be made. shareholder in Alstom, manufacturer of in 50 years that Paris has made such a turbines for electric power stations, and clear commitment. Obsessed by national A week later, at 5 p.m. on February 6 the TGV high-speed train, making the independence, Charles de Gaulle fi rst in Flamanville, at the site where EDF is company the main rival to the German opened the door for state-controlled civil building the fi rst French EPR together with Siemens corporation. Alstom managing and military nuclear industries. After the May / June 2009 European Energy Review 64 Titel Nuclear Special oil crisis of 1973, President Valery Giscard already involved in nuclear energy through One taboo subject is the unity of Areva d’Estaing launched the programme which its Belgian subsidiary Electrabel, has led to a and its “integrated” business model. would lead to France having 58 nuclear new player arriving on the scene, vying with Areva exploits every niche of the nuclear power stations. Now, at the start of 2009, EDF. network, from the extraction and Nicolas Sarkozy has given an international Then there is Areva, the nuclear processing of fuel to the manufacture of dimension to French nuclear power. technology supplier owned by the French reactors and reprocessing of fuel, and state. Its order books are full and the even the distribution of electricity via In fact, the decision to build a second company has announced plans to increase intelligent networks. This “one-stop shop” EPR is all about ‘conquering the world’. its production capacity substantially. business model is “the envy of all our For France itself, there is no urgent need But it has a fi nancing problem. It needs competitors”, they like to say at Areva. to build another new reactor, as EDF has around €10 billion by 2012, and that’s But not all experts are convinced of the admitted publicly. But it is important to not taking into account the buy-out of effectiveness of this model. They claim the demonstrate to the outside world that Siemens’ share in Areva NP (its reactor activities of enrichment and reprocessing France has confi dence in the EPRs, despite arm) and the penalties the company may have signifi cant military implications the major delays in the construction of the have to pay as a result of the delays with that impose heavy restrictions likely fi rst EPR-reactor in Finland (see the story the Finnish EPR. This confl ict will be the to alienate potential private partners. on page 52) and the cost overrun for the subject of arbitration. Anne Lauvergeon Processing of waste, long criticised by fi rst French EPR in Flamanville (€4 billion has naturally knocked on the door of the political and environmentalist opponents, instead of the initial €3.3 billion). company’s major shareholder, i.e. the is subject to regulatory requirements government, for a solution. She is still which may change, and generates a degree So much for overall strategy. But things are waiting for an answer. There is just one of uncertainty suffi cient to discourage far from cut and dried when it comes to problem: the state coffers are empty. investors. the companies involved. EDF is expected One option would be a merger with Alstom, to continue its international expansion, but for Areva that is a worst-case scenario. However, the current political and social to invest massively and to bolster the EPR Lauvergeon is looking for fi nancial investors, circumstances – the unions in France are network. Pierre Gadonneix (see the interview not for an invasive industrial partner. The nuclear-friendly as long as the industry on page 68) knows his contract expires in concept of a merger between Alstom and is confi ned within the bosom of the November but he is hoping for an extension, Areva was proposed in 2008 by Sarkozy but State – do not favour President Sarkozy even though he can hardly be called one of the project was later frozen. Alstom might straying too far into “tinkering” with a President Sarkozy’s inner circle. Meanwhile, be attracted by the idea of buying Siemens’ complicated restructuring of the nuclear the creation of the energy giant GDF-Suez, share of Areva’s reactors business, since this industry. The entry of the new group GDF formed by a merger of the state gas utility would enable the company to go back into Suez into the game has already made GDF and the private company Suez, which is that particular market. plenty of waves. The Flamanville nuclear power plant. Photo by: Andre Durand/AFP/Getty images European Energy Review May / June 2009 65.
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