US-based integrated energy company Entergy has agreed to sell its subsidiaries that own Indian Point Units 1, 2, and 3, located in Buchanan, New York, to a Holtec International subsidiary for decommissioning.
The sale that includes the transfer of the licenses, spent fuel, decommissioning liabilities, and Nuclear Decommissioning Trusts (NDT) for the three units, and is effective after Unit 3 is shut down and permanently defueled, according to Entergy.
Indian Point Unit 2 and Unit 3 are scheduled to shut down by 30 April 2020 and 30 April 2021, respectively. Unit 1 was shut down in 1974.
Entergy has announced the sale of its entire remaining merchant nuclear fleet for decommissioning, following the agreement to sell Indian Point.
Entergy chairman and chief executive officer Leo Denault said: “The sale of Indian Point to Holtec is expected to result in the completion of decommissioning decades sooner than if the site were to remain under Entergy’s ownership. With its deep experience and technological innovations, Holtec’s ability to decommission Indian Point will benefit stakeholders in the surrounding community.”
The transaction is expected to be closed in the third quarter of 2021, subject to closing conditions, including approval from the NRC.
The acquisition of the Indian Point Energy Center is expected to increase Holtec’s fleet to six reactors at four nuclear facilities and an independent spent fuel storage installation, located in Michigan, New York, New Jersey, and Massachusetts.
Holtec International president & CEO Kris Singh said: “Holtec will execute the decommissioning of Indian Point with the same culture of excellence that has undergirded our company’s ascent to a first-tier nuclear technology firm.
“Our industry-leading expertise and deep experience permit us to complete decommissioning at Indian Point decades sooner than if Entergy remained the owner and performed decommissioning itself. The potential for the site to be released decades sooner for redevelopment could deliver significant benefits to local community stakeholders and the local economy.”
Entergy said that both the companies intends to seek an order from the New York State Public Service Commission (PSC) disclaiming jurisdiction, or alternatively, approving the transaction.