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Constellation Energy about to kill nuclear reactor project

Constellation Energy says loan backstop too costly, :By DANIEL WAGNER 10/10/2010 WASHINGTON—Constellation Energy Group Inc. says it won’t tap a government program necessary to build a new nuclear plant in Maryland, in a move likely to kill the project, according to a published report on Sunday.The U.S. Department of Energy’s loan guarantee came with “unworkable” terms and an “unreasonably burdensome” cost, Constellation said Saturday, according to a report by The Wall Street Journal……..The government guarantee was necessary for Constellation to finance the planned Calvert Cliffs 3 plant in Calvert County, Md. Lenders require developers of nuclear sites to obtain the guarantee. The projects are too costly and high-risk to qualify for regular loans…….. Constellation Energy says loan backstop too costly – :

October 11, 2010 - Posted by | business and costs, USA | , , , , , ,

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