Nuclear Developer Seeks New Partners for South Texas Project as Split with CPS Energy Nears Finalization

SUGAR LAND--February 24, 2010--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--A San Antonio municipal utility's public and acrimonious divorce from a proposed two-unit, 2,700-megawatt (MW) nuclear power plant is nearly final. San Antonio municipal utility CPS Energy has been trying to separate itself from the South Texas Project units 3 and 4 for several months. Last week, a settlement was reached between CPS Energy and Nuclear Innovation North America (NINA) (New York, New York), a consortium of NRG Energy Incorporated (NYSE:NRG) (Princeton, New Jersey) and Toshiba Corporation (TYO:6502) (Tokyo, Japan) that is developing the two-unit nuclear expansion of the South Texas Project (STP). All that remains is for the CPS Energy board to ratify the deal. Toshiba is the engineering, procurement, and construction (EPC) firm for STP units 3 and 4. Subcontractors include Fluor Corporation (NYSE:FLR) (Irving, Texas), Sargent & Lundy LLC (Chicago, Illinois), Bechtel Group Incorporated (San Francisco, California) and Westinghouse (Monroeville, Pennsylvania).