4 January 2008 – Areva’s transmission and distribution (T&D) division has signed an agreement with the Finnish company, Nokian Capacitors Ltd, to acquire its activities.
The Finnish firm said the acquisition is of strategic importance for Areva as it would reinforce its position on the growing ultra high-voltage market.
Nokian Capacitors Ltd. benefits from 50 years of expertise in engineering and manufacturing power system components such as Capacitors in particular. With 2006 sales of €51m ($75m), the company currently counts 290 employees and is represented in 70 countries.
Capacitors are components used in high voltage direct current (HVDC) schemes and flexible alternative current transmission systems (FACTS).
HVDC and FACTS both help reduce CO2 emissions by respectively minimizing power losses and ensuring the balance and efficiency of high-voltage transmission networks. They also facilitate the connection of renewable energy sources into the power network.