Nuclear power?s fuzzy future in the United States has begun to come into focus.
Baltimore?s Constellation Energy this week announced a joint venture with Europe?s EDF Group focused on the potential development and construction of the first batch of nuclear power plants in the United States in nearly 30 years.
Constellation and EDF will form UniStar Nuclear Energy, a new Baltimore company designed to develop, own and operate new U.S. nuclear projects. Each company will own 50 percent of UniStar, with EDF investing up to $625 million in the new company and Constellation contributing subsidiary companies and interests.
“The goal of this new company is to advance the development of nuclear power in our country,” said George Vanderheyden, president of UniStar. “We hope to take a lead in rebuilding nuclear power in America.”
Thebig question, then, is when can we expect to see a nuclear power plant up and running in the United States for the first time since the 1970s?
“We have not made a decision yet to build a nuclear power plant, but we?re trying to move down that path as fast as we can,” Vanderheyden said. “There?s a lot of heavy lifting involved. We?re at the very beginning of this process, and there is a tremendous amount of issues.”
The largest obstacle in UniStar?s path seems to be a “workable” federal loan program, Vanderheyden said. Because a nuclear plant has not been built in the United States for nearly 30 years, funding for such projects has run dry, as have U.S. suppliers for nuclear plants.
UniStar is exploring the possibility, though, going through the loan and license processes. At the earliest, a decision to build could be made by 2009, with a new U.S. nuclear plant online by 2015.
There is a possibility that UniStar would construct a third reactor at Constellation?s Calvert Cliffs Nuclear Power Plant.
A Calvert Cliffs project would provide a boost for the local economy, Vanderheyden said. About 2,400 construction workers would be needed to build the plant, and about 400 employees would be hired upon project completion. The average nuclear plant generates total state and local tax revenue of almost $20 million each year.
Both EDF and Constellation look forward to potential U.S. nuclear power projects.
“This agreement confirms EDF?s interest in the U.S. nuclear power renaissance and participation in increasing the availability of safe and secure nuclear power,” Pierre Gadonneix, chairman and chief executive officer of EDF Group, said in a statement.
Constellation President and CEO Mayo A. Shattuck III said: “Constellation Energy strongly believes nuclear power must play a prominent role in our nation?s energy future.”
New gas plant in Charles County
» Competitive Power Ventures on Tuesday announced plans to build a natural gas-fired power plant in Charles County that will generate enough electricity to power 600,000 homes.
» “CPV St. Charles will be our flagship facility and will employ the most advanced and environmentally conscious power-generation technologies today,” CPV chairman and CEO Doug Egan said in a statement.
» After an environmental review and issuance of all necessary permits, construction of the plant is expected to begin near the Charles County landfill in early 2009 and finish in 2011.
» Construction will create as many as 400 jobs, and 30 permanent jobs will be created when the plant is operational. ? Andrew Cannarsa
