EDF gets green light to invest in US nuclear

EDF and Constellation received the go-ahead today from the Maryland Public Service Commission (MPSC) for a joint venture that would see the French firm acquire a 49.99% stake in Constellation’s nuclear generation and operation business for $4.5 billion.

Announced in January, the deal also involved an immediate cash injection of $1 billion and a $600 million interim backstop liquidity facility. Constellation also signed up for the option to sell up to $2 billion of non-nuclear generation assets