Staring down setbacks, Areva CEO still bullish on nuclear sales

Despite a string of setbacks in recent months, including cost overruns and lost bids, Areva is sticking to its plan to sell 10 nuclear reactors by 2016, Reuters reports.

Two of Areva’s European Pressurized Reactors (EPR), the company’s 1,600 MW flagship design, are under construction in France and Finland but years behind schedule and billions over budget. Making matters worse for the French nuclear giant, the EPR has been excluded from tenders in Finland and the Czech Republic.

"We face very vigorous competition, in particular from our Russian and Japanese friends," said CEO Luc Oursel at the company's 2012 earnings news conference, according to reports from Reuters.

Oursel indicated the company is looking at how to converge a new 1000 MW reactor with the company’s as-yet untried 1000 MW Atmea reactor, for potential sale to the France’s EDF or China’s CGNPC.

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