Areva to appeal after being excluded from Czech nuclear project

Areva (EuronextCEI) has been excluded from the bid to build a nuclear power plant in the Czech Republic.

Czech power company CEZ announced that it had excluded the French utility from its multi-billion-euro tender to expand the Temelin nuclear power plant for failing to fulfill all the requirements, leaving Toshiba’s US unit Westinghouse and a consortium led by Russia’s Atomstroyexport as the two remaining bidders.

Temelin nuclear power plant
CEZ didn’t go into specifics, which it said involved both commercial and legislative reasons, explaining that because Areva can appeal the decision, it is unable to say more until that process has been exhausted.

Areva said it would file an objection under the tender rules.

Atomstroyexport’s parent, nuclear holding Rosatom, sweetened the Russian offer in March by saying it was ready to offer full funding for the project and would consider any type of strategic partnership, including one that would see it become a shareholder in CEZ itself.

With CEZ clearly struggling to come up with funding for the project without state guarantees that the Czech government has repeatedly ruled out, the Russian offer is deemed by observers to be a crucial one.

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