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Areva SA, the world’s biggest maker of nuclear power plants, and Duke Energy Corp., the owner of utilities in the U.S. Southeast and Midwest, have agreed to jointly develop bio mass power plants in the U.S. The companies said in a statement Wednesday that Areva will design and build the plants, which will use wood waste to produce power, while Duke will operate them.
They plan to jointly invest $10 million in the first year of the project, according to a Securities and Exchange Commission filing.
The venture has the potential for 10 to 12 plants with capacity of 50 megawatts each, according to the filing. Bloomberg News
