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GE Hitachi to transfer ownership of Vallecitos nuclear plant prior to decommissioning
- 11 months ago (2023-05-15)
- David Flin
GE Hitachi Nuclear Energy (GEH) has announced its intention to transfer ownership of its Vallecitos Nuclear Centre in California, USA to NorthStar Group Services for nuclear decontamination, decommissioning, and environmental site restoration. The proposed transaction is subject to review and approval by the US Nuclear Regulatory Commission (NRC).
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Jay Wileman, President and CEO of GEH, said: “We have explored strategic alternatives for the site that align to our long-term strategy, changing customer needs, and the external business environment. By transferring the site to a recognised decommissioning expert like NorthStar, we can continue meeting our near-term requirements while maintaining focus on our core business product lines.”
GEH has already started decommissioning the Vallecitos Boiling Water Reactor (VNWR), the General Electric Test Reactor (GETR), and the ESADA Vallecitos Experimental Superheat Reactor (EVESR). As part of the proposed transaction, GEH and NorthStar have signed an asset purchase and sale agreement and will sign a decommissioning completion agreement at closing.
GEH will work with the appropriate government entities to complete the licence transfer process. Until all transfers are complete, GEH is responsible for the facility.