Shaw, Westinghouse sign nuke deal
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The Shaw Group Inc. and Westinghouse Electric Co., who will jointly build nuclear energy components in Lake Charles, have signed a nuclear reactor deal with a Florida utility that’s potentially worth more than $4 billion.
Progress Energy Florida Inc. awarded an engineering, procurement and construction contract to Shaw and Westinghouse for a pair of reactors to be built on undeveloped sites in Levy County, a rural Florida county southwest of Gainesville on the Gulf Coast.
Though the companies didn’t disclose the value of the contract, Shaw Chairman Jim Bernhard previously has said nuclear reactors ordered now for the next decade should yield $2 billion to $2.5 billion each in gross revenue to the Shaw-Westinghouse consortium.
The Progress Energy deal brings to six the number of U.S. nuclear reactors ordered from Shaw and Westinghouse, including previously announced deals in Georgia and South Carolina. All of the nuclear reactors are awaiting approval from the U.S. Nuclear Regulatory Commission.
An NRC decision on the Florida reactors should come in 2012. The first Advanced Passive 1000 reactor in Levy County should begin producing energy in 2016, with the second reactor coming online a year later, Shaw said.
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