NINA Announces Newly Developed EPC Consortium to Advance South Texas Project
Nuclear Innovation North America LLC (NINA), the nuclear development company jointly owned by NRG Energy, Inc. and Toshiba Corporation., today announced it has awarded the engineering, procurement and construction (EPC) contract for South Texas Project Units 3 & 4 to a restructured EPC consortium (the Consortium) formed by Toshiba America Nuclear Energy Corporation (TANE), a US based Toshiba subsidiary, and The Shaw Group Inc.
NINA is currently developing the 2,700-megawatt South Texas Project nuclear power expansion through the South Texas Project Nuclear Operating Company. The project remains on track for permitting in 2012 and for the first unit to come online in 2016 and the second in 2017.
"The collaboration of Toshiba and Shaw is the ideal partnership for the expansion of the South Texas Project," said Steve Winn, President and CEO of NINA. "Each of these partners has industry-leading expertise in building nuclear power plants, and combined, they can deliver on-time and on-budget construction excellence. The addition of Shaw to South Texas Project team specifically adds additional expertise in modular and nuclear construction that will be invaluable to the project and makes the expansion team even stronger."
Shaw is providing a $100 million credit facility to NINA to assist in financing the South Texas Project. The credit facility will convert to equity in NINA upon the satisfaction of certain conditions including the project receiving full notice to proceed, which is expected in mid-2012.
"With the addition of the South Texas Project, Toshiba and Shaw, along with Westinghouse, now have contracts together for 12 nuclear power units in countries outside of Japan," said Yasuharu Igarashi, Corporate Senior Vice President of Toshiba Corp. "Together, we already have achieved a joint global leadership position in the nuclear power industry, which our new consortium further solidifies."
"The South Texas Project will be the first project in the U.S. to use Toshiba's Advanced Boiling Water Reactor technology, a leading-edge nuclear power plant technology," said J.M. Bernhard Jr., Shaw's chairman, president and chief executive officer. "We believe Shaw's experience building nuclear power plants in the U.S. and internationally will help ensure its ultimate success."
Nuclear Innovation North America (NINA) is a partnership between NRG and Toshiba focused on developing new nuclear expansion projects using Advanced Boiling Water Reactor (ABWR) technology—the only advanced nuclear technology certified by the Nuclear Regulatory Commission that has been built on time and on budget. NINA is currently developing the 2,700 megawatt South Texas Project expansion with San Antonio's CPS Energy and the South Texas Project Nuclear Operating Company. NINA is also exploring other development opportunities to employ ABWR in additional projects across North America.
NRG Energy, Inc., (NYSE:NRG) a Fortune 500 and S&P 500 Index company, owns and operates one of the country's largest and most diverse power generation portfolios. Headquartered in Princeton, NJ, the Company's power plants provide nearly 26,000 megawatts of generation capacity-enough to supply nearly 21 million homes. NRG's retail businesses, Reliant Energy and Green Mountain Energy Company, combined serve more than 1.8 million residential, business, commercial and industrial customers. With investments in solar, wind and nuclear power, as well as electric vehicle infrastructure, NRG is working to help America transition to a clean energy economy.
Toshiba (TOKYO: 6502) is a world leader and innovator in pioneering high technology, and a diversified manufacturer and marketer of advanced electronic and electrical products spanning information & communications systems; digital consumer products; electronic devices and components; power systems, including nuclear energy; industrial and social infrastructure systems; and home appliances. Toshiba was founded in 1875, and today operates a global network of more than 740 companies, with 204,000 employees worldwide and annual sales surpassing 6.3 trillion yen (US$68 billion).
The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2010 annual revenues of $7 billion, Shaw has approximately 27,000 employees around the world and is the power sector industry leader according to Engineering News-Record's list of Top 500 Design Firms. Shaw offers a premier portfolio of nuclear, fossil and renewable power expertise, delivering safe, efficient and clean energy solutions around the world. Shaw has a 20 percent equity interest in Westinghouse.
Published 29/11/2010
Find out more about:
The Shaw Group Inc. »
Nuclear Innovation North America (NINA®), »
NRG Energy, Inc. »
Toshiba Corporation »
Search for more News
