Entergy sells Indian Point Energy Center for decommissioning

Published on April 18, 2019 by Dave Kovaleski

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Entergy Corp. sold the subsidiaries that own Indian Point Units 1, 2, and 3 nuclear power plant, located in Buchanan, N.Y., to a company that will decommission the facilities.

The sale of the facilities to Holtec International subsidiary for decommissioning will be effective after Unit 3 has been shut down and permanently defueled. The sale includes the transfer of the licenses, spent fuel, decommissioning liabilities, and Nuclear Decommissioning Trusts (NDT) for the three units.

“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,” Entergy Chairman and Chief Executive Officer Leo Denault said. “With its deep experience and technological innovations, Holtec’s ability to decommission Indian Point will benefit stakeholders in the surrounding community.” 

With this sale, Entergy has now sold its entire remaining merchant nuclear fleet for decommissioning.

Holtec will initiate decommissioning at Indian Point decades sooner Entergy would have it if continued to own the units. The transaction is subject to closing conditions, including approval from the Nuclear Regulatory Commission. The companies also plan to seek an order from the New York State Public Service Commission (PSC) approving the transaction. Approvals are also required from the NYS Department of Environmental Conservation (DEC).

Entergy remains committed to the safe and reliable operation of Indian Point Unit 2 and Unit 3 until they are permanently shut down in 2020 and 2021, respectively. Unit 1 was shut down in 1974.

Holtec and its affiliates specialize in demolition and decommissioning. They will deploy operating processes and methods that enable them to expedite site clean-up and minimize occupational dose to workers. They will also minimize any incidental disruption to the land, water, and air at and around the site.

“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,” Kris Singh, president & CEO of Holtec International, said. “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.”

Holtec will hire Entergy’s employees at Indian Point who are employed at the site for decommissioning.

“Holtec looks forward to engaging with site employees, the local community, and other stakeholders over the coming months and years as we discuss our vision for the decommissioning of Indian Point,” Singh said.