EDF sold its 49.99% interest in Constellation Energy Nuclear Group LLC to its joint venture partner Exelon Generation, LLC

(PRESS RELEASE) PARIS, 9-Aug-2021 — /EuropaWire/ — EDF (EPA: EDF), the world-leading nuclear operator, has announced it has completed the sale of its 49.99% interest in Constellation Energy Nuclear Group, LLC (“CENG”) to its joint venture partner, Exelon Generation, LLC (“Exelon”). The sale is pursuant to a Put Agreement entered into by EDF and Exelon in April 2014¹, in which Exelon granted to EDF the right to sell its interest to Exelon at fair market value. EDF exercised the put option in January 2020².

The purchase price for EDF’s interest in CENG is $885 million and the proceeds were received by EDF on August 6^th.

The transaction is part of EDF’s previously announced disposal plan.

¹Cf. EDF Press Release April 1^st 2014 “EDF and Exelon finalize agreement on CENG”
²Cf. EDF Press Release November 20th 2019 “EDF notifies the exercise of its put option on its participation in CENG”

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SOURCE: EDF