Nuclear power fuel contract awarded to Areva

Areva said it has signed an integrated fuel and related services contract with Xcel Energy (NYSE: XEL) to supply the 610 MW Monticello Nuclear Generating Plant in Minnesota. The approximately $500 million contract covers uranium, conversion, enrichment, fuel design and fabrication, and related engineering services.

Under the agreement, Areva will provide six fuel reloads which corresponds to a decade of fuel supply, with deliveries beginning in 2015. The contract includes transition of the Monticello plant to use Areva’s Atrium 10XM boiling water reactor (BWR) fuel. This will be the first time that Xcel Energy will use Areva fuel in its plants.

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