NRC Approves License Transfer for Indian Point to Holtec

The U.S. Nuclear Regulatory Commission Monday approved the application to transfer the licenses for Indian Point Energy Center’s nuclear power plants from Entergy Corporation to a Holtec International subsidiary for prompt decommissioning.

The transfer of Indian Point to Holtec, currently targeted for May 2021, would occur following the satisfaction of all closing conditions, including the permanent shutdown and reactor defueling of Unit 3, which is the last operating power plant at Indian Point. Unit 3 will shut down by April 30, 2021.

Entergy and Holtec jointly filed a License Transfer Application with the NRC in November 2019, requesting approval for the transfer of Indian Point, along with its Nuclear Decommissioning Trusts (NDTs) and decommissioning liability.

“The NRC’s approval of the Indian Point license transfer is a critical milestone as we move closer to completing the transaction,” said Leo Denault, Entergy’s Chairman and Chief Executive Officer. “The sale of Indian Point following its permanent shutdown will benefit the community by enabling the facility to be removed and the site remediated decades sooner than otherwise thought possible.”

In its decision, the NRC determined Holtec possessed the required technical and financial qualifications to decommission Indian Point safely and in accordance with NRC requirements. Previously, the NRC approved two separate transfers of retired nuclear power plants to Holtec for prompt decommissioning.

Holtec plans to begin the decommissioning process shortly after taking ownership, and as part of the agreement between the companies, will initially provide job opportunities for approximately 300 of Entergy’s current employees at Indian Point.

As part of its plan, Holtec expects to move all of the Indian Point spent nuclear fuel into dry casks within about three years following facility shutdown in 2021. Holtec has a pending application with the NRC for a Consolidated Interim Storage Facility in New Mexico, which could eventually store spent nuclear fuel from Indian Point and other U.S. nuclear power plants.

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