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Time of India
23-07-2025
- Business
- Time of India
France's EDF to withdraw from some overseas projects, cut jobs
Advt Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHRWorld industry right on your smartphone! Download the ETHRWorld App and get the Realtime updates and Save your favourite articles. By Forrest Crellin and Elizabeth PineauPARIS, - French energy company EDF is planning to cut its headcount overseas and scrap bids on some nuclear projects abroad as it focuses on a major construction programme at home under new CEO Bernard Fontana , said two sources familiar with the matter. France , a global leader in nuclear energy and Europe's largest nuclear power producer, is pulling back at a time of global calls for nuclear expansion, opening the door to new players as high costs and design issues hurt its ability to compete was appointed in April to take over the state-run utility after the government became increasingly frustrated with EDF's slow progress in revamping the French nuclear new chief executive told a parliamentary hearing on his nomination that he would focus on developing the company's domestic nuclear projects rather than its international business, which employs hundreds of people and has previously built reactors in China, Finland and has outlined changes to the overseas business in recent weeks, said the sources, including pulling back from some bids to build reactors outside company will focus on tenders for nuclear projects in the Netherlands, Sweden and Finland, where it has a higher chance of winning the bids, said an industry source familiar with the will also de-prioritise projects in Poland, India, Canada and elsewhere outside Europe, the person its international footprint will allow it to cut costs and redirect people to higher-priority projects, said another industry source familiar with the said no decision had been made."The new French nuclear programme is the group's priority," said an official in Prime Minister Francois Bayrou's recent international projects have faced long delays and cost overruns. Last year it lost out to South Korea's KHNP in a bid for two new reactors in the Czech will also reduce headcount on the international sales team, said the sources, with one saying there are plans to cut about 60 jobs, including 10 group continues its international activities while remaining attentive to the profitability of its commitments, EDF has always been its first priority and it is focusing on strengthening its European supply chains, an EDF spokesperson said."The important thing is that these international projects contribute to the strengthening of the French nuclear industry," the government official Emmanuel Macron announced plans in early 2022 for six new French reactors to replace ageing plants and secure future energy supplies, with costs estimated at 67 billion euros($78.7 billion), according to a media report last company is heavily indebted, however, after expensive repairs to its nuclear fleet in recent has reduced its stake in its UK reactor projects Sizewell C and Hinkley Point C, with investors entering the projects to share risks associated with the long construction times and free up capital for other is also looking to sell some of its renewable energy assets in North America and company's subsidiaries Framatome and Arabelle, which produce reactor parts, will continue to bid to supply international projects, such as the AP 1000 in Poland, one of the sources added.($1 = 0.8516 euros) (Reporting by Forrest Crellin and Elizabeth Pineau; Editing by Dominique Patton, David Holmes and Jane Merriman)
Time of India
23-07-2025
- Business
- Time of India
France's EDF to withdraw from some overseas projects, cut jobs
France's EDF is cutting its headcount overseas and scrapping bids on some nuclear projects abroad as it focuses on a major construction programme at home under new CEO Bernard Fontana , said two sources familiar with the matter. France, once a global leader in nuclear energy and Europe's largest nuclear power producer, is pulling back at a time of global calls for nuclear expansion , opening the door to new players as high costs and design issues hurt its ability to compete internationally. Fontana was appointed in April to take over the state-run utility after the government became increasingly frustrated with EDF's slow progress in revamping the French nuclear fleet. The new chief executive told a parliamentary hearing on his nomination that he would focus on developing the company's domestic nuclear projects rather than its international business, which employs hundreds of people and has previously built reactors in China, Finland and Britain. He has outlined changes to the overseas business in recent weeks, said the sources, including pulling back from some bids to build reactors outside Europe. The company will focus on tenders for nuclear projects in the Netherlands, Sweden and Finland, where it has a higher chance of winning the bids, said an industry source familiar with the plans. It will also de-prioritise projects in Poland, India, Canada and elsewhere outside Europe, the person said. Reducing its international footprint will allow it to cut costs and redirect people to higher-priority projects, said another industry source familiar with the situation. EDF's recent international projects have faced long delays and cost overruns. Last year it lost out to South Korea's KHNP in a bid for two new reactors in the Czech Republic. Fontana will also reduce headcount on the international sales team, said the sources, with one saying there are plans to cut about 60 jobs, including 10 managers. No decision has been made, EDF said. The group continues its international activities while remaining attentive to the profitability of its commitments, the company said. Europe has always been its first priority and it is focusing on strengthening its European supply chains, a spokesperson for the company said. "The new French nuclear programme is the group's priority," said an official in Prime Minister Francois Bayrou's office. President Emmanuel Macron announced plans in early 2022 for six new French reactors to replace ageing plants and secure future energy supplies, with costs estimated at 67 billion euros ($78.7 billion), according to a media report last year. The company is heavily indebted, however, after expensive repairs to its nuclear fleet in recent years. EDF is also looking to sell some of its renewable energy assets in North America and Brazil. The company's subsidiaries Framatome and Arabelle, which produce reactor parts, will continue to bid to supply international projects, such as the AP 1000 in Canada, one of the sources added.
Hindustan Times
22-07-2025
- Business
- Hindustan Times
France's EDF to withdraw from some overseas projects, cut jobs, sources say
By Forrest Crellin and Elizabeth Pineau France's EDF to withdraw from some overseas projects, cut jobs, sources say PARIS, - France's EDF is cutting its headcount overseas and scrapping bids on some nuclear projects abroad as it focuses on a major construction programme at home under new CEO Bernard Fontana, said two sources familiar with the matter. France, once a global leader in nuclear energy and Europe's largest nuclear power producer, is pulling back at a time of global calls for nuclear expansion, opening the door to new players as high costs and design issues hurt its ability to compete internationally. Fontana was appointed in April to take over the state-run utility after the government became increasingly frustrated with EDF's slow progress in revamping the French nuclear fleet. The new chief executive told a parliamentary hearing on his nomination that he would focus on developing the company's domestic nuclear projects rather than its international business, which employs hundreds of people and has previously built reactors in China, Finland and Britain. He has outlined changes to the overseas business in recent weeks, said the sources, including pulling back from some bids to build reactors outside Europe. The company will focus on tenders for nuclear projects in the Netherlands, Sweden and Finland, where it has a higher chance of winning the bids, said an industry source familiar with the plans. It will also de-prioritise projects in Poland, India, Canada and elsewhere outside Europe, the person said. Reducing its international footprint will allow it to cut costs and redirect people to higher-priority projects, said another industry source familiar with the situation. EDF's recent international projects have faced long delays and cost overruns. Last year it lost out to South Korea's KHNP in a bid for two new reactors in the Czech Republic. Fontana will also reduce headcount on the international sales team, said the sources, with one saying there are plans to cut about 60 jobs, including 10 managers. No decision has been made, EDF said. The group continues its international activities while remaining attentive to the profitability of its commitments, the company said. Europe has always been its first priority and it is focusing on strengthening its European supply chains, a spokesperson for the company said. "The new French nuclear programme is the group's priority," said an official in Prime Minister Francois Bayrou's office. President Emmanuel Macron announced plans in early 2022 for six new French reactors to replace ageing plants and secure future energy supplies, with costs estimated at 67 billion euros , according to a media report last year. The company is heavily indebted, however, after expensive repairs to its nuclear fleet in recent years. EDF is also looking to sell some of its renewable energy assets in North America and Brazil. The company's subsidiaries Framatome and Arabelle, which produce reactor parts, will continue to bid to supply international projects, such as the 1000 in Poland, one of the sources added. This article was generated from an automated news agency feed without modifications to text.
Barnama
26-06-2025
- Business
- Barnama
S. Korea Approves Decommissioning Of 1st Commercial Nuclear Reactor, Kori-1
This file photo, provided by Korea Hydro & Nuclear Power Co. on Oct. 29, 2019, shows the now-retired Kori-1 nuclear reactor located in the southeastern port city of Busan. (Photo Credit Yonhap News Agency) SEOUL, June 26 (Bernama-Yonhap) -- South Korea has approved the decommissioning of the country's first commercial nuclear reactor, the now-defunct Kori-1 unit, the Nuclear Safety and Security Commission (NSSC) said Thursday, also marking its first-ever decommissioning of a reactor. According to the Yonhap News Agency, Unit 1 of the Kori nuclear power plant, located in the southeastern city of Busan, was permanently shut down in June 2017 after operating for about 40 years since April 1978. In May last year, Korea Hydro & Nuclear Power Co. (KHNP) began chemical decontamination to remove radioactive materials from the reactor, marking a crucial first step in the decommissioning process. bootstrap slideshow The KHNP said the successful dismantling of the Kori-1 reactor will be significant for the nuclear and related industries as it will open up new business opportunities in the global reactor decommissioning market. "The full dismantling of the Kori-1 reactor is expected to take 12 years due to challenges related to the construction of spent nuclear fuel storage facilities," an NSSC official said. According to the review by the commission, KHNP operates three dedicated decommissioning units with a combined 108 personnel and existing departments have appropriately provided support for the project. The decommissioning work is expected to cost 1.07 trillion won (US$788.8 million), which is deemed appropriate. Under the KHNP plan, spent nuclear fuel will be removed six years after approval, contaminated zones will be cleared in 10 years, and the site will be fully restored after 12 years. A total of 171,708 tonnes of radioactive waste will be generated during decommissioning, including 65 tonnes of intermediate-level waste and 8,941 tonnes of low-level waste, and KHNP has established management plans for each waste type, the commission said. Excluding Kori-1, South Korea has 26 nuclear reactors. Of these, 20 are currently in operation with a combined capacity of 20,854 megawatts electric (MWe).
Straits Times
26-06-2025
- Business
- Straits Times
South Korea nuclear watchdog approves first dismantlement of nuclear power plant
FILE PHOTO: The Kori No. 1 reactor (R) and No. 2 reactor of state-run utility Korea Electric Power Corp (KEPCO) are seen in Ulsan, about 410 km (255 miles) southeast of Seoul, September 3, 2013. Picture taken September 3, 2013. REUTERS/Lee Jae-Won/File Photo SEOUL - South Korea's Nuclear Safety and Security Commission approved on Thursday the first dismantlement of a nuclear power plant in the country, the Kori-1, which was permanently shut down in 2017 after 39 years of operation, it said in a statement. The panel authorised a plan by the nuclear operator Korea Hydro and Nuclear Power (KHNP) to take down the plant at a cost of 1.1 trillion won ($810 million) over 12 years that would include the handling of approximately 170,000 tonnes of nuclear waste, it said. The decision marks the first such operation by the country, the world's fifth-largest producer of nuclear energy according to the International Atomic Energy Agency and a major global builder of atomic power plants, to decommission a nuclear plant. The nuclear safety commission said it concluded the plan submitted by KHNP met the technical requirements under the country's nuclear safety management laws. Experts have said the dismantlement operation could help South Korea enter the global nuclear decommissioning market, which is now dominated by the United States with countries such as Japan and Germany having also entered the race. South Korea generated 31.7% of its electric power from nuclear power stations in 2024, according to government data. It now operates 26 power plants and the Kori-1 power plant was the first to be commissioned for commercial operation in 1978. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
