Toshiba Corporation today announced that it will invest US$300 million in a new company formed by NRG Energy, Inc, one of the largest diversified energy providers in the United States. The recently formed company, Nuclear Innovation North America LLC, will promote the deployment of ABWR (advanced boiling water reactor) nuclear power plants in North America.
The Nuclear Innovation North America also will support the smooth development of the South Texas Project (STP) units 3 and 4 projects. NRG and CPS Energy, the electric utility for San Antonio, Texas, are currently developing STP units 3 and 4. These two plants, currently at the permitting and construction planning stage, will be the first ABWR nuclear power plants in the United States and are scheduled to start operation in 2015 and 2016, respectively.
Toshiba last year signed a project services agreement for STP units 3 and 4, under which the company is carrying out key pre-engineering work and procuring major components with long lead times. Toshiba was recently selected by NRG and CPS Energy to be the prime contractor for the development of the South Texas Project (STP) units 3 and 4 nuclear power plants. Toshiba is now responsible for all engineering work prior to the start of plant construction, for the procurement of major equipment and components, and for supporting the licensing process. The final contract for the two plants, including the construction phase, is expected to be finalized by this summer.
As a partner with the Nuclear Innovation North America, Toshiba will also serve as the prime contractor for all future Nuclear Innovation North America projects.
Toshiba Corporation
