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U.S. nuclear power loan guarantee goes to French company AREVA

DOE Picks Areva for Nuclear Facility – WSJ.co By CASSANDRA SWEET 21 May 2010, Siobhan Hughes contributed to this article.The U.S. Department of Energy said Thursday that it has approved a $2 billion loan guarantee for French nuclear power developer, AREVA.

“…..The loan guarantee is part of a broader effort by the Obama administration to stimulate the development of a U.S. supply base for producing enriched uranium.

A condition of the loan guarantee is that Areva obtain a combined construction and operating license for the Idaho facility from the Nuclear Regulatory Commission. The French state owns directly and indirectly around 93% of Areva…..the decision to award Areva a guarantee drew criticism from Ohio, where USEC has a partly-constructed enrichment facility. Rep. Jean Schmidt (R.,Ohio) said the DOE’s decision contradicts a promise by President Obama “to support the American company applicant and build a facility in Ohio.” Ms. Schmidt estimated that the Ohio plant would create 4,000 jobs. DOE Taps Areva to Build Enrichment Plant – WSJ.com

May 22, 2010 - Posted by Christina Macpherson | business and costs, USA | antinuclear, AREVA, France, nuclear, nuclear costs, nuclear renaissance, nuclear spin, nuclear wastes, reactor, uranium