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Nuclear power project near Houston moves forward
The South Texas Project, which will build new nuclear reactor units outside of Houston, gained momentum with a new federal ruling that allows the project to move forward.
The U.S. Nuclear Regulatory Commission Atomic Safety and Licensing Board ruled in favor of the Bay City project after the U.S. Nuclear Regulatory Commission had expressed concerns that the project violated laws that ban a foreign entity from owning or operating nuclear facilities in the U.S.
NRG has invested $480 million into the project for two reactor units is part of the Nuclear Innovation North America, or NINA, which is a joint venture between Houston-based NRG Energy Inc. (NYSE: NRG) and Falls Church, Va.-based Toshiba American Nuclear Energy Corp. The entire project would cost about $10 billion and bring jobs and nuclear power to the region. The ruling paves the way for the project to receive its full licensing in early 2016 after a final series of reviews.
...snip...
The other major drawback to the project is the ongoing shale boom in Texas. The low natural gas prices are keeping nuclear power from being as profitable for investors.
http://www.bizjournals.com/houston/news/2014/04/11/nuclear-power-project-near-houston-moves-forward.html?page=all
The U.S. Nuclear Regulatory Commission Atomic Safety and Licensing Board ruled in favor of the Bay City project after the U.S. Nuclear Regulatory Commission had expressed concerns that the project violated laws that ban a foreign entity from owning or operating nuclear facilities in the U.S.
NRG has invested $480 million into the project for two reactor units is part of the Nuclear Innovation North America, or NINA, which is a joint venture between Houston-based NRG Energy Inc. (NYSE: NRG) and Falls Church, Va.-based Toshiba American Nuclear Energy Corp. The entire project would cost about $10 billion and bring jobs and nuclear power to the region. The ruling paves the way for the project to receive its full licensing in early 2016 after a final series of reviews.
...snip...
The other major drawback to the project is the ongoing shale boom in Texas. The low natural gas prices are keeping nuclear power from being as profitable for investors.
http://www.bizjournals.com/houston/news/2014/04/11/nuclear-power-project-near-houston-moves-forward.html?page=all