Steve Winn, CEO of Nuclear Innovation North America to Present at the Macquarie Global Infrastructure Conference 2009
– By Abby Gessner –
NRG Energy, Inc. announced that Steve Winn, CEO of Nuclear Innovation North America (NINA) – the nuclear development company jointly owned by NRG and Toshiba Corporation – will present at the Macquarie Global Infrastructure Conference on Thursday, June 4, 2009 at 10:15am eastern.
Nuclear Innovation North America (NINA), a joint venture between NRG Energy and Toshiba, will market, site, develop, finance and invest in new advanced design nuclear projects in North America, including the planned new South Texas Project (STP) units 3&4 NRG is developing with San Antonio’s CPS Energy. Toshiba Corp. has agreed to partner with NINA and will serve as the prime contractor on all projects.
NINA will take advantage of the development expertise NRG has gained developing STP 3&4 and of the design and construction experience of Toshiba with the ABWR—the only advanced nuclear technology that is NRC-certified and has been built on-time and on-budget. NINA will employ a disciplined approach to nuclear development and investment in ABWR projects. Its structure aligns the interests of both developer and prime contractor—to optimize the schedule, performance and costs of its projects while sharing risk in a manner consistent with the requirements of traditional project finance.
One of NINA's key development advantages is that Toshiba is extending pre-negotiated Engineering, Procurement and Construction (EPC) terms to the company for two additional two-unit nuclear projects similar to the terms being offered for the STP unit 3&4 development. NINA will work with Toshiba to develop each project's costs, including a pre-negotiated project fee and contingency percentage, utilizing a collaborative process and ABWR's proven design to bring a higher probability of success and certainty to any nuclear project. This will be key to nuclear development as the cost and commercial terms associated with the construction of new nuclear units have emerged over the past few months as perhaps the biggest remaining obstacles to the nuclear renaissance in the United States.
Interested investors can listen to the live audio webcast at http://www.nrgenergy.com under “Investors.” A replay of the webcast will be archived on the website.