Entergy Corp has agreed to sell the subsidiary that owns the Pilgrim Nuclear Power Station in Plymouth after its shutdown and reactor defueling, to a Holtec International subsidiary for accelerated decommissioning.
The sale includes the transfer of the license, spent fuel, and Nuclear Decommissioning Trust (NDT. The transaction is subject to conditions to closing, including approvals from the U.S. Nuclear Regulatory Commission (NRC) of the license transfer.
Assuming timely regulatory approvals, Holtec expects to initiate prompt decommissioning of Pilgrim in 2020, with the expectation that all major decommissioning work will be completed in approximately eight years.
For both Pilgrim and Palisades, Holtec expects to move all of the spent nuclear fuel out of the spent fuel pools and into dry cask storage within approximately three years of the plants’ respective shutdown.
“Transferring our Pilgrim and Palisades plants to Holtec, with its vast experience and innovative use of technology, will lead to their decommissioning faster than if they were to remain under Entergy’s ownership,” said Entergy Chairman and Chief Executive Officer Leo Denault. “Earlier decommissioning benefits the surrounding communities,” he added.