The French utility arm of EDF Group has announced plans to sell its 49.99 percent ownership in Constellation Energy Nuclear Group (CENG), which it owns in partnership with Chicago-based Exelon.
A transaction price has not been disclosed.
CENG is an energy company providing power, natural gas, renewable energy, and energy management products and services for homes and businesses across the continental United States, according to the company’s website. CENG owns five nuclear reactors across three nuclear power plants, located in New York and Maryland, which have a total capacity of 4,041 megawatts.
EDF said the disposal is pursuant to the set of agreements concluded with Exelon in 2014, an option that can be exercised from Jan. 1, 2016, to June 30, 2022. The sale is part of a disposal plan of noncore assets announced by EDF Group.
Closing is contingent on EDF obtaining the required regulatory approvals.