AREVA Signs a $500-Million Integrated Fuel Supply Contract with Xcel Energy
The approximately $500-million contract covers uranium, conversion, enrichment, fuel design and fabrication, and related engineering services. It is the first of a kind awarded by a nuclear utility to a fuel supplier in the country in several decades.
Under the agreement, AREVA will provide six fuel reloads which correponds to a decade of fuel supply, with deliveries beginning in 2015. The contract includes transition of the Monticello plant to use AREVA's innovative ATRIUMTM 10XM boiling water reactor fuel. This will be the first time that Xcel Energy will use AREVA fuel in its plants.
Luc Oursel, AREVA CEO, said: "AREVA is very pleased with the trust placed in us by Xcel Energy. This new success was made possible thanks to our integrated business model that draws on a broad portfolio of products and services tailored to meet our customers' needs."
Dennis Koehl, senior vice president and chief nuclear officer for Xcel Energy, said the utility looks forward to working with AREVA. "This contract represents the start of a productive working relationship between AREVA and Xcel Energy, one we believe will benefit our customers by controlling fuel costs," Koehl said.
*Xcel Energy is a major U.S. utility operating in eight Midwestern and Western states, with a total generation capacity of 16,000 MW.
AREVA supplies solutions for power generation with less carbon. Its expertise and unwavering insistence on safety, security, transparency and ethics are setting the standard, and its responsible development is anchored in a process of continuous improvement.
Ranked first in the global nuclear power industry, AREVA's unique integrated offering to utilities covers every stage of the fuel cycle, nuclear reactor design and construction, and related services. The group is also expanding in renewable energies - wind, solar, bioenergies, hydrogen and storage - to be one of the top three in this sector worldwide in 2012.
With these two major offers, AREVA's 48,000 employees are helping to supply ever safer, cleaner and more economical energy to the greatest number of people.