Part of a Special Section covering the Nuclear Construction Summit USA 2009, October 26-27 – Washington DC
The Nuclear Construction Summit, USA 2009 was attended by professionals who finance, plan and develop next nuclear projects. Professionals delivered information that will form blueprints for successful financing and construction risk assessment and management at every phase of the construction cycle. From government and regulatory bodies to operator insight and in-depth contractor experience.
- Presented by Luis A. Reyes, NRC Region II Administrator –
The attached pdf presentation from the NCS meeting details Nuclear Innovation North America's (NINA's) Creating Cost Certainty For Nuclear Development. Discussed in the presentation are:
Nuclear Innovation North America (NINA) is a Powerful Partnership of NRG and Toshiba
Bringing Innovation to Nuclear Generation
NRG Development Capability
- Licensing Expertise
- Financing Expertise
- Partnering and Off take Relationships
- Continued Funding of Development Efforts
- Additional Opportunities
- Existing Development Program
Toshiba EPC Capability
- 40 Years of BWR Construction Experience
- Committed Capital
- Existing Manufacturing Supply Chain
- Modularized Design Engineering and Construction
- Positive Subcontractor Relationships
Toshiba’s BWR and ABWR Experience
- Constructed1 ABWR nuclear units Kashiwazaki Kariwa 6 & 7 in 37 and 40 months respectively
- Formed Toshiba American Nuclear Energy (TANE) to focus on ABWR licensing and engineering in the U.S.
- Migrating Japanese successful construction methods to U.S. constructor
- As owner of Westinghouse largest US manufacturer and service provider of Pressurized Water Reactor (PWR)
- Led 2004 TVA/DOE Bellefonte Study of ABWR construction in U.S.
EPC Contract Negotiations Complete
- EPC Contract negotiations complete on February 11, 2009
– MOU with all key terms signed in September 2008
– CPS Board approval in January
- Key features
– Open book period followed by Fixed Price Turnkey construction period
– Contractual terms substantially the same as large fossil project
– Subcontract between Fluor and Toshiba negotiated
- Other benefits
– Triggers $500mm long lead material credit facility
– Triggers two additional EPC contracts with the same terms
STP 3&4’s EPC contract sets the standard for risk sharing between project developers and vendors
$500mm Long-lead Material Credit Facility
Toshiba is extending a $500mm credit facility to NINA that supports the purchase of NINA’s share of all materials and equipment purchased prior to Full Notice to Proceed (FNTP)
– Non-recourse to NRG and Toshiba
– Supports material purchases during open book phase
– Repaid with DOE/ Japanese guaranteed loan proceeds at FNTP
Key benefits
– Defers significant equipment spend until FNTP
– Aligns vendor and customer on equipment cost
The LLM facility aligns the vendor with the equity owner
Click here for the pdf: New Nuclear Build Risk Assessments