Big news: NRC suspends consideration of STP expansion over foreign ownership

The San Antonio Express-News just reported:

The Nuclear Regulatory Commission has suspended its review of the foreign ownership portion of the application to expand the South Texas Project nuclear plant over concerns that the owners haven’t done enough to ensure domestic control of the plant.

Toshiba Corp., based in Japan, could obtain an 85 percent ownership stake in the two nuclear plants proposed for the site outside of Bay City, the NRC found, meaning the company could have “the power to exercise ownership, control or domination over NINA,” or Nuclear Innovation North America.

NINA is a partnership between Toshiba and NRG Energy, which currently shares ownership of STP’s existing nuclear plants with CPS Energy and Austin Energy.

According to the Express-News:

NRC staff, in its Dec. 13 letter to NINA, determined that the plan as submitted doesn’t meet the requirements of a federal law prohibiting foreign ownerships of a nuclear plant because, since NRG will not be investing additional capital in the project, “there is reason to believe that most of the financing going forward will be from Toshiba,” a foreign corporation.

This decision could push back a final decision on the license application:

The commission confirmed that the rest of the licensing application will continue to move ahead, but a license, which has been expected by sometime in 2012, will not be granted until the foreign ownership question is resolved.

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About Robert Singleton

By day, I work for a call center. In my spare time, I try to save my hometown (and planet) from a nearly constant onslaught of greedheads, lunatics and land developers. I live in a fictional town called Austin, Texas, where I go to way too many meetings.
This entry was posted in ABWRs, Construction delays, Expansion, Nuclear Regulatory Commission, South Texas Project and tagged , , , , . Bookmark the permalink.

One Response to Big news: NRC suspends consideration of STP expansion over foreign ownership

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