Japanese Nuclear Disaster Touches Princeton-Based NRG Energy

NRG Energy yesterday announced it will incur a nearly half billion writedown of its proposal to build two new nuclear units at its South Texas nuclear site, recognizing the diminished prospects as a result of the ongoing nuclear incident in Japan, according to NJ Spotlight.

The Princeton-based energy company’s partner in the south Texas project was Toyko Electric Power Co., the owner of the crippled nuclear power plant in northern Japan that suffered a partial meltdown in the wake of an earthquake last month and subsequent tsunami.

The announcement is not unexpected. NRG previously said its joint venture with the company, Nuclear Innovation North America (NINA), has suspended indefinitely all engineering work and other pre-construction activities at the project.

To continue reading, click here