Entergy completes sale of Indian Point Energy Center to Holtec
BUCHANAN, NY, May 28, 2021 / PRNewswire / – Entergy Corporation (NYSE: ETR) today completed the sale of the owned subsidiaries of Indian Point Energy Center to a subsidiary of Holtec International, which plans to complete major decommissioning activities at the site for decades sooner than if Entergy had continued to hold the facility. The last operational unit of the site, Unit 3, was shut down by Entergy on April 30, 2021, having produced electricity safely and reliably for the past 45 years.
Indian Point Unit 1 was closed in 1974. Indian Point Unit 2 was closed in April 2020.
Entergy and Holtec announced the sale of Indian Point in April 2019. The US Nuclear Regulatory Commission has approved the transfer of licenses from Indian Point to Holtec in November 2020 and the New York State The Civil Service Commission approved the transfer on May 19, 2021. The agencies found that Holtec is technically and financially qualified to own and dispose of Indian Point safely and in accordance with regulatory requirements.
“We thank all of our Indian Point employees for operating a safe, secure and reliable plant for over 20 years under the ownership of Entergy, and we hope that many of them will continue with Entergy at new sites.” , said Entergy’s chief executive officer. Leo Denault. “With our previously announced agreement for the sale following the closure of the Palisades nuclear power plant in 2022, we remain on track to complete our exit from nuclear activities into merchant markets.”
“The protection of public health and safety and the environment is the foundation upon which the Indian Point decommissioning program will be conducted,” said Holtec CEO Dr. Kris singh. “The advanced technologies we have employed at Pilgrim and Oyster Creek to ensure maximum worker and environmental safety and the well-being of local communities will be used at Indian Point to achieve the same excellent results that we continue to do. ‘get in other factories from our We are committed to ongoing engagement with stakeholders at local and national levels to ensure a smooth flow of information at all times. ”
About Entergy Corporation
Entergy Corporation is an integrated energy company engaged in retail electricity generation, transmission and distribution operations. Entergy supplies electricity to 3 million customers Arkansas, Louisiana, Mississippi and Texas. Entergy owns and operates one of the cleanest large-scale power generation facilities in the United States, with approximately 30,000 megawatts of power generation capacity, including 7,000 megawatts of nuclear power. Based at New Orleans, Louisiana, Entergy has an annual income of 10 billion dollars and more than 13,000 employees. Learn more at entergy.com and follow @Entergy on social media.
Entergy owns and operates five nuclear power plants as part of its regulated utility business and is committed to continuing to operate its nuclear fleet in these locations. Its nuclear power plants in these markets are located in Louisiana, Arkansas and Mississippiand have more than 5,000 megawatts of clean, reliable and economical power generation capacity for customers in these regions.
Entergy currently has a remaining merchant nuclear power plant, Palisades Power Plant, in Michigan, whose final shutdown is scheduled for spring 2022. Entergy has previously announced its intention to sell Palisades to Holtec International for decommissioning after shutdown.
About Holtec International
Holtec International is a privately held technology company with operating centers in Florida, New Jersey, Ohio, and Pennsylvania in the United States and around the world Brazil, Canada, India, Japan, Mexico, South Africa, Spain, United Kingdom and Ukraine. Since the 1980s, Holtec has played a leading role in the industry by increasing the wet spent fuel storage capacity of more than 110 reactors around the world. More than 130 nuclear units worldwide rely on Holtec technology for the storage and transport of spent fuel. Holtec develops and implements innovative solutions to overcome the technical challenges facing its customers around the world. HI-STORE, the world’s first consolidated intermediate intermediate storage facility in the world, is currently being licensed for deployment in New Mexico. Holtec’s SMR-160, a small modular 160 megawatt reactor, will provide safe, secure, reliable, affordable and carbon-free power, even in the most arid regions of the world. Holtec is also dedicated to the safe and efficient dismantling of closed nuclear power plants. Holtec’s approach to decommissioning is to start and complete physical decontamination and decommissioning decades earlier than if the current owner of the nuclear power plant retains ownership of the plant. As a leading supplier of specialty pressure vessels and critical-service heat exchange equipment, Holtec supplies air-cooled condensers, steam generators, water heaters and water condensers. As a fully integrated supplier, Holtec has in-house capabilities to design, design, analyze, license, manufacture and build these technologies.
Caution Regarding Forward-Looking Statements
In this press release, and from time to time, Entergy Corporation makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, Entergy’s plans and expectations with respect to regarding its planned exit from the merchant nuclear power sector and other statements about Entergy’s plans, beliefs or expectations included in this press release. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except to the extent required by federal securities laws, Entergy assumes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.
Forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) factors discussed elsewhere in this press release and in Entergy’s latest annual report on Form 10-K, all subsequent quarterly reports on Form 10-Q and other Entergy reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with (1) tariff procedures, tariff formulas and other cost recovery mechanisms, including the risk that costs will not be recoverable to the extent intended by the utilities and (2) the implementation of the effects on the pricing of the right changes; (c) uncertainties associated with efforts to remedy the effects of major storms and recover related restoration costs; (d) the risks associated with the operation of nuclear facilities, including the costs and risks of license renewal, operation and regulation; (e) changes in the value or income of decommissioning trust funds or in the timing or cost of decommissioning of the Entergy NPP sites; (f) legislative and regulatory measures and the risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (g) the risks and uncertainties associated with the execution of business strategies, including strategic transactions that Entergy or its subsidiaries may undertake and the risk that such transaction will not be completed as and when expected and the risk that expected benefits of the transaction are not to be realized; (h) the effects of changes in federal, state or local laws and regulations and other government actions or policies, including changes in monetary, fiscal, fiscal, environmental or energy policies; (i) the effects of changes in commodity markets, capital markets or economic conditions; (j) the impacts of a terrorist attack, cybersecurity threats, data security breaches or other attempts to disrupt Entergy’s business or operations, and / or other catastrophic events; (k) the direct and indirect impacts of the COVID-19 pandemic on Entergy and its customers; and (l) the effects of technological change, including the costs, pace of development and commercialization of new and emerging technologies.
SOURCE Entergy Corporation