US-based power company Entergy Corporation has agreed to divest the Indian Point Energy Center to a subsidiary of Holtec International following the shut-down of the site's last nuclear reactor. The agreement covers the three units, which are located in Buchanan, New York State and will become effective once the third and last unit has been shut down and permanently defuelled. It also comprises the transfer of the licenses, used fuel, decommissioning liabilities and nuclear decommissioning trusts for all three units. The transaction is expected to be completed in the third quarter of 2021.
The Indian Point nuclear power plant includes three units. The first one (257 MW) was commissioned in 1962 and stopped in 1974. The two other units, rated 1,020 MW and 1,040 MW, entered commercial operation in 1974 and 1976, respectively. In 2017, the company decided to close Indian Point 2 by 30 April 2020 and unit 3 by 30 April 2021.
In 2018, Entergy already agreed to sell two nuclear power plants (i.e. the Pilgrim and Palisades facilities) to Holtec International after their closures in 2019 and 2022, respectively. This is line with the company's strategy of divesting its entire remaining nuclear merchant fleet for decommissioning purposes.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.