Toshiba invests in U.S. nuclear project

[flashl]

Source: International Herald Tribune

NRG Energy said that it had formed a partnership with a reactor vendor to build nuclear plants around the United States.

NRG Energy, based in Princeton, New Jersey, wants to build two reactors adjacent to the South Texas Project, 90 miles, or 145 kilometers, from Houston. It said Tuesday that it had established a company, Nuclear Innovation North America, to market, develop, finance and invest in reactors.

Toshiba, which makes the reactor that NRG wants to build, will invest $300 million, half for the South Texas Project reactors and half for development of additional reactors in North America, NRG said. Toshiba will get a 12 percent stake in Nuclear Innovation.

...

Crane, in a telephone interview on Monday after the financial markets closed, said that the Energy Policy Act of 2005 had provided loan guarantees, production tax credit and some risk insurance for new plants. But, he said, "the one principal risk you cannot lay off is who's going to build this thing on time and on budget."

IHT

Read more: http://www.iht.com/articles/2008/03/26/business/nuke.php

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The 2005 Energy Policy Act just keep giving even after making U.S. energy companies billionaires.

[Ordr]

1. Good!

Modern nuclear power FTW. :)