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Kuwait, Areva ink nuclear cooperation deal, possible stake opportunity according to sources

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According to BI-ME, “Kuwait and France on Thursday signed an initial agreement on nuclear cooperation that includes exchanging expertise on the field, the official news agency KUNA reported. The agreement encourages the peaceful use of atomic energy to bring in vital energy resources such as electricity, the report said, without providing any details of the cooperation. Earlier on Wednesday KUNA had reported that Kuwait may be interested in acquiring a stake in France’s nuclear giant Areva, citing unidentified industry sources.

‘Areva says it needs the capital injection to finance the expected rapid development in the nuclear market,’ Kuna said.

The news agency added that Anne Lauvergeon, the CEO of Areva, did not give details on ongoing contacts with potential investors, ‘but industry sources have said that Kuwait could be interested in taking a stake in Areva’.

Lauvergeon reportedly said Wednesday that the talks taking place with potential partners are at a government-to-government level and that a number of partners were involved. In March, Deputy Prime Minister and Minister of Defence Sheikh Jaber Moubarak Al-Hamad Al-Sabah said Kuwait will cooperate with France in the field of nuclear power, hinting it could take a stake in the nuclear group Areva. The Financial Times also said in March that the French government was considering opening the share capital of Areva to Middle Eastern investment funds with a view to reinforcing its political influence and the nuclear group’s prospects in the region. Exploratory talks had been held about the possibility of sovereign wealth funds buying minority stakes of 1%-5% in Areva, which is majority owned by the French government, the FT said, citing people close to the matter.”

read more: Business Intelligence Middle East

Scatec Solar Places Big Solar Bet in Bangladesh

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Oslo-based Scatec Solar ASA, a publicly-traded independent power producer operating in the emerging market solar development space, plans to construct and own a 800 mega watt photovoltaic solar power plant in Chandpur, Bangladesh. Scatec Solar has solar assets scattered across numerous emerging markets such as South Africa, Rwanda, Honduras, Egypt, Jordan and the Czech Republic.

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APFC Sells $1.4 Billion Stake in Simpson Housing

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The Alaska Permanent Fund Corporation (APFC) embarked on a major shift in its real estate portfolio by selling a 50% ownership stake in Denver-based Simpson Housing LLLP for US$ 1.4 billion. Simpson Housing had made up roughly 24.7% of APFC’s US$ 5.6 billion real estate portfolio. The other owner of Simpson Housing is that State of Michigan Retirement Systems.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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ISIF Invests in Cybersecurity Firm Vectra

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The Ireland Strategic Investment Fund (ISIF) committed €10 million to Vectra Networks, Inc., a San Jose, U.S.-based cybersecurity company. The investment capital will assist Vectra in creating a research and development center in Dublin.

ISIF is part of a larger funding round of €30 million. These other investors include Khosla Ventures, Accel Partners, DAG Ventures, AI Ventures, AME Cloud Ventures and Wipro Ventures.

Kevin Dillon, who is the former Head of Microsoft Ireland and a Managing Partner at Atlantic Bridge, will join the board of directors at Vectra.

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