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Fri April 19 2019

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SNC-Lavalin JV signs US decommissioning deal

1 day A joint venture of SNC-Lavalin JV and Holtec International is to decommission three US nuclear reactors in a deal that is expected to be worth more than CAD$1bn (£570m).

The joint venture, Comprehensive Decommissioning International (CDI), will work as decommissioning general contractor.

Entergy Corp as agreed to sell the subsidiaries that own Indian Point Units 1, 2 and 3 in Buchanan, New York, 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 licences, 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, said SNC-Lavalin.

Subject to finalizing terms with Holtec, CDI would become responsible for performing the decommissioning of all three reactor units.

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“This is a strong vote of confidence by Holtec in CDI’s abilities in the decontamination and decommissioning business,” said SNC-Lavalin president nuclear Sandy Taylor. “CDI has rapidly become a major player for prompt decommissioning in the US in what continues to be a fast-growing market.”

CDI president Kelly Trice said: “We aim to bring a fleet approach to the decommissioning business and safely return the sites to community use on an accelerated timescale.

CDI was previously retained by Holtec in 2018 for the decommissioning and waste management of Entergy’s Pilgrim and Palisades nuclear plants.

MPU

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