Press Release-16-070, NRC Approves Transfer of Susquehanna Nuclear Plant Licenses from Talen Energy to Riverstone Holdings

Press Release-16-070: NRC Approves Transfer of Susquehanna Nuclear Plant Licenses from Talen Energy to Riverstone Holdings

ML16351A119
Person / Time
Site:	Susquehanna
Issue date:	12/01/2016
From:	Office of Public Affairs
To:
References
Press Release-16-070
Download: ML16351A119 (1)

Text

No: 16-070 December 1, 2016

Contact:

David McIntyre, 301-415-8200 NRC Approves Transfer of Susquehanna Nuclear Plant Licenses from Talen Energy to Riverstone Holdings The Nuclear Regulatory Commission has approved the indirect transfer of the operating licenses for the Susquehanna Steam Electric Station, Units 1 and 2, from Talen Energy Corp. to the portfolio companies of Riverstone Holdings, as part of Riverstones proposed acquisition of Talen.

The Susquehanna plant has two boiling water reactors and a dry cask spent fuel storage installation located in Berwick, Pa. The reactors are licensed to operate through July 17, 2042, for Unit 1 and March 23, 2044, for Unit 2. The plant is operated by a subsidiary of Talen, Susquehanna Nuclear LLC, which holds a 90-percent ownership stake in the plant. The indirect transfer does not affect the remaining 10 percent, held by Allegheny Electric Cooperative Inc.

Indirect transfer refers to the formation or change of a holding company over an existing licensee.

The proposed indirect transfer of control is not expected to change Susquehanna Nuclears role as the plant operator, its principal officers, managers or staff or the day-to-day management and operation of the units. No changes will be made to the units or their licensing bases as a result of the transfer.

The NRC reviews proposed license transfers to ensure the new ownership entity will have the technical and financial ability to operate the plant safely and eventually decommission it. The NRC concluded that Riverstone is qualified to hold the ownership interests in the facility previously held by Talen, and that Susquehanna Nuclear remains qualified to operate the plant.

The NRCs approval of the indirect license transfer, contained in an Order issued Nov. 30, is effective immediately. Other regulatory approvals may be required before the transaction is completed.