EDF welcomes the decision of the Board of Directors of its American partner Constellation Energy to approve moving forward based on the conditions set forth in the order issued by the Maryland Public Service Commission with respect to the creation of a nuclear joint venture between EDF and Constellation Energy. The Maryland PSC has attached conditions designed to preserve the independence and financial strength of Constellation Energy’s regulated subsidiary.

Approval from the Maryland PSC completes the regulatory review process, and the companies now have received all necessary approvals at the federal and state levels to proceed with the transaction. EDF and Constellation Energy will complete the transaction without modification to the previously agreed terms of the transaction. EDF will commence the process to enable the close of the transaction, for which it has already received the authorization of its own Board of Directors. The consummation of the transaction is the result of a partnership between EDF and Constellation Energy that began over two years ago.

Through its investment in Constellation Energy’s nuclear business, EDF has chosen Maryland to be at the center of its growth efforts in the United States. EDF is eager to be a strong corporate citizen in Maryland, and looks forward to moving its U.S. headquarters to the State.

Pierre Gadonneix, Chairman and CEO of EDF said: “EDF, the world's largest operator of nuclear generation, is eager to enhance its presence in the United States, the largest market in the world. EDF looks forward to operating and developing nuclear power plants in the U.S., where the group is already active in the development of renewable energy (enXco, a subsidiary of EDF Energies Nouvelles), trading (EDF Trading North America), and the nuclear renaissance (via Unistar Nuclear Energy)”.

Tags: EDF Group