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New York (AFP) Oct 9, 2010 Constellation Energy announced Saturday it was unable to obtain a workable US loan guarantee for its new generation Calvert Cliffs 3 nuclear power plant in Maryland with its partner Electricite de France. The US power company said it would have to discuss the future of Calvert Cliffs 3 with its partner EdF, which has not yet informed Constellation Energy of its position on the loan guarantee. Their joint venture, Unistar, "has not withdrawn its application for a federal loan guarantee and no decisions have been made regarding the future of Calvert Cliffs 3," Constellation Energy said. It said the cost of the loan guarantee calculated by the Office of Management and Budget was "unreasonably burdensome and would create unacceptable risks and costs for our company." "After repeated unsuccessful attempts to resolve this issue with DOE (Department of Energy) and OMB, we no longer see a timely path to reaching a workable set of terms and conditions," it said. EdF bought 49.99 percent of Unistar's nuclear activities for 4.5 billion dollars in 2008. But the partners appeared on the verge of a breakup over an option Constellation Energy has to sell EdF its thermal power plants despite their loss in value over the past two years.
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S.Korea seeks to join in South African nuclear projectsSeoul (AFP) Oct 8, 2010 South Korea Friday signed a nuclear power cooperation agreement with South Africa, in hopes of securing lucrative deals for its companies in any future plant construction. South Korea, with few natural energy sources, operates 20 commercial reactors providing 40 percent of its electricity. It is eager to export its expertise further, after sealing a landmark 20.4 billion dollar deal las ... read more |
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