New Projects, Nuclear

Toshiba Withdraws from South Texas Nuclear Expansion

By Editors of Power Engineering

Though NRG had already abandoned a two-reactor expansion of its South Texas Project nuclear plant, Toshiba officially withdrew its plans for the two reactors, Reuters reported.

Toshiba said it had failed to find investors due to sharply lower electric rates and increased global regulation, making the project financially unviable.

Toshiba America Nuclear Energy Corp. reached an agreement with Toshiba in March 2008 to build two new reactors, though NRG wrote off its investment in the project in 2011 due to regulatory uncertainty after the Fukushima nuclear disaster.

The Bay City, Texas plant has two units operating at a combined 2,760 MW.