EDF plans to start negotiations with Italian companies to sell equity in small modular reactor subsidiaries.

According to informed sources, the French electric company is preparing to negotiate the sale of the shares of its small modular nuclear reactor subsidiary with Italian companies. During a meeting between French President Macron and Italian Prime Minister Meloni in Aix-en-Provence, France on Thursday, they discussed plans related to the Nuward subsidiary. EDF's Italian subsidiary, Edison, has signed a declaration with an Italian nuclear energy company to jointly develop Nuward's small modular reactor technology, with the goal of having the first power plants operational before 2035. The project aims to design and construct small reactors to provide low-carbon electricity and heat to a wider range of customers. Due to high electricity costs, Italy is considering re-entering the nuclear power sector.