French utility EDF is exercising the ‘put option’ to sell its 49.99% stake in Constellation Energy Nuclear Group, which owns the R.E. Ginna, Nine Mile Point and Calvert Cliffs nuclear plants. Exelon Generation holds a majority 50.01% stake in the five reactors (4041MW) in New York and Maryland, and operates them under a 2014 agrement with EDF. Exelon took title of the five reactors in April 2014 following a $7.9bn merger with Constellation Energy in 2012. EDF, which purchased the stake in CENG for $4.5 billion in 2008, notified Exelon of the exercise of its put option on 49.99% of the membership interests of CENG.
Modern Power Systems 27th Nov 2019 read more »