Areva signs a $500m supply contract with Xcel Energy

Areva has signed a unique integrated fuel and related services contract with Xcel Energy in the United States to supply the Monticello nuclear power plant located in the state of Minnesota.

The approximately $500-million contract covers uranium, conversion, enrichment, fuel design and fabrication, and related engineering services. It is the first of a kind awarded by a nuclear utility to a fuel supplier in the country in several decades.

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 innovative ATRIUMTM 10XM boiling water reactor fuel.

Dennis Koehl, senior vice president and chief nuclear officer for Xcel Energy said, “this contract represents the start of a productive working relationship between AREVA and Xcel Energy, one we believe will benefit our customers by controlling fuel costs.”

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