French groups EDF and Areva have approved the creation of EDVANCE, a joint venture that will be in charge of the basic design and implementation (studies, procurement support, assembly and commissioning) for projects involving nuclear islands and control systems for new reactors being built, both in France and around the world.
EDF will be the main shareholder in EDVANCE, with an 80% share in the company, while AREVA NP will own 20%. The latter will focus on its core business, i.e. nuclear boilers and will provide the primary circuit, equipment, safety control systems and nuclear instrumentation; it will keep developing its business on its installed base.
In 2016, EDF and Areva agreed on EDF taking over exclusive control of Areva NP; that company was renamed New Areva NP and focused on reactors operations, while fuel cycle activities (Areva Mines, Areva NC, Areva Projects and Areva Business Support companies and their respective subsidiaries) were transferred into "NewCo". The creation of EDVANCE is independent from EDF’s acquisition of the exclusive control over New Areva NP, planned for the end of 2017.