SNC-Lavalin joint-venture entering $1B contract to decommission U.S. nuclear plant
Entergy Corp. has agreed to sell the subsidiaries that own Indian Point Units 1, 2, and 3 sites, located in Buchanan, N.Y., to a subsidiary of SNC's joint venture partner for decommissioning.
Comprehensive Decommissioning International, LLC (CDI), a joint venture company of SNC-Lavalin and Holtec International, has agreed to enter into a Decommissioning General Contractor Agreement for another U.S. nuclear decommissioning contract, expected to exceed $1 billion.
Entergy Corp. has agreed to sell the subsidiaries that own Indian Point Units 1, 2, and 3, located in Buchanan, N.Y., to a Holtec International subsidiary for decommissioning.
Under the terms of the Holtec and Entergy agreement, which is subject to regulatory approvals, Holtec will assume ownership of the site which includes the transfer of the licenses, spent fuel, and Nuclear Decommissioning Trusts (NDTs), for the three units.
The transaction is targeted to close in the third quarter of 2021, after Unit 3 has been shut down and defueled.
Holtec will seek to complete the decommissioning of the Indian Point site decades sooner than if Entergy continued to own the plant.
Subject to finalizing the terms of a decommissioning agreement with Holtec, CDI would become responsible for performing the decommissioning of all three reactor units.
CDI was formed in July 2018, and was previously retained by Holtec for the decommissioning and waste management of Entergy’s Pilgrim and Palisades nuclear plants.