26 Mar (NucNet): Toshiba Corporation today announced it will invest 300 million US dollars (USD) (190 million euro) in a new company that will aim to build Toshiba’s Advanced Boiling Water Reactor (ABWR) units in the US.
The new company, Nuclear Innovation North America, is being formed by NRG Energy, one of the largest energy providers in the US.
The new company will also support the development of two new ABWR units at the South Texas Project (STP) nuclear power plant. In September 2007, NRG Energy and South Texas Project Nuclear Operating Company filed a combined construction and operating licence application with the US Nuclear Regulatory Commission (NRC) to build and operate the two units, South Texas Project-3 and -4. It was the first licence application submitted to the NRC for a new nuclear plant in the US in 29 years.
Toshiba said in a statement today the two new units will be the first ABWR nuclear power plants in the US and are scheduled to start operation in 2015 and 2016, respectively.
Toshiba last year signed a project services agreement for the two units, under which it is carrying out key pre-engineering work and procuring major components with long lead times. Toshiba was recently chosen by NRG and CPS Energy, the electric utility for the area where STP is situated, to be the prime contractor for the units.
Toshiba said that as a partner with Nuclear Innovation North America, it will also serve as prime contractor for all future Nuclear Innovation North America projects.
NRG Energy said half of the USD 300 million investment will be to support the development of units 3 and 4 at STP. The other half will be focused on new projects and will help accelerate development and deployment of additional ABWR projects in the US with other potential partners.
>>Related reports in the NucNet database (available to subscribers)
NRG Announces Plans For Two New South Texas Units (News No. 130, 22 June 2006)
Toshiba To Help With Two New South Texas Project Units (World Nuclear Review No. 32, 10 August 2007)
NRG Files Application For Two New South Texas Units (News in Brief No. 29, 25 September 2007)
