News Release — December 8, 2005
UniStar Nuclear Taps Seasoned Nuclear Executive as President
New Position Will Oversee Day-to-Day Operations For Joint Venture
BALTIMORE, MD, Dec. 8, 2005 - UniStar Nuclear today announced that George Vanderheyden, a senior nuclear executive at Constellation Energy, will now serve as President of the joint venture between Constellation Energy and AREVA, Inc.
Vanderheyden previously served as site vice president for Constellation's Calvert Cliffs Nuclear Power Plant in southern Maryland. Calvert Cliffs, along with the company's Nine Mile Point Nuclear Station has been identified by UniStar Nuclear as a potential site for deployment of a new 1,600 megawatt U.S. Evolutionary Power Reactor (U.S. EPR). In his new role as president of UniStar Nuclear, Vanderheyden will be responsible for implementing the UniStar Nuclear business model which has as its goals the development and deployment of the first new generation of nuclear power plants in North America in more than 30 years.
“We have always made it clear that having the right leadership in place will be critical to our effort,“ said Michael J. Wallace, the co-chief executive officer of UniStar Nuclear and an executive vice president of Constellation Energy. “George will provide a depth of experience, insight and leadership that will be extremely valuable as we move forward with the goal of building and operating the first fleet of new nuclear power plants in three decades, and in so doing, contribute to the nation's energy future.“
Thomas A. Christopher, co-chief executive officer of UniStar Nuclear and chief executive officer of AREVA Inc., said that Vanderheyden's energy and expertise will be important factors in the success of the enterprise.
“We are confident that UniStar Nuclear will be the first to deploy the next generation of nuclear power plants in America,“ said Christopher. “To accomplish this ambitious but realistic goal, we are selecting leaders, like George, who have a track record of leading strong teams to achieve demanding goals and deliver performance excellence in a rigorous nuclear power industry.“
UniStar Nuclear is a joint venture between Constellation Energy and AREVA, Inc., that brings together an experienced nuclear fleet operator and owner and a preeminent nuclear reactor vendor. UniStar has selected the U.S. EPR as its technology of choice to develop and deploy in North America. UniStar Nuclear (http://www.unistarnuclear.com) is headquartered in Annapolis, Md.
Constellation Energy (http://www.constellation.com), a FORTUNE 200 company based in Baltimore, is the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and energy companies. It owns a diversified fleet of more than 100 generating units located throughout the United States, totaling approximately 12,000 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. In 2004, the combined revenues of the integrated energy company totaled $12.5 billion.
As the leading U.S. nuclear supplier and a key player in the electricity transmission and distribution sector, AREVA's 6,500 American employees are committed to serve the nation and pave the way for the future of the electricity market. The company's commitment to America is reflected in its initial investment of $200 million in the U.S. EPR. With 40 locations across the nation and more than $2 billion in revenues in 2004, AREVA combines homegrown leadership, access to worldwide expertise and a proven track record of performance. In the U.S. and in over 100 countries around the world, AREVA is engaged in the 21st century's greatest challenges making energy available to all, protecting the planet and acting responsibly towards future generations. AREVA Inc. is headquartered in Bethesda, Md. Visit us at www.us.areva.com