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Entergy completes sale of Entergy Nuclear Vermont Yankee to subsidiaries of NorthStar Group Services.

International Resource News-January 14, 2019--Entergy completes sale of Entergy Nuclear Vermont Yankee to subsidiaries of NorthStar Group Services

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International Resource News - 14 January 2019

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Entergy Corporation (NYSE: ETR), an integrated energy company, has completed the sale of Entergy Nuclear Vermont Yankee to subsidiaries of NorthStar Group Services, which will decommission the Vermont Yankee Nuclear Power Station site.

The sale completion is said to be a positive outcome for the Town of Vernon, Windham County, the State of Vermont and other stakeholders. It is also making progress on its corporate strategy of exiting the merchant nuclear power business. The sale is a first-of-its-kind in the nuclear power industry, a permanent ownership and license transfer to a company that is slated to perform timely and efficient decommissioning and site restoration.

Entergy and NorthStar announced the sale agreement in November 2016. On December 6, 2018, the Vermont Public Utility Commission issued an order approving the sale of Entergy Nuclear Vermont Yankee and an amended Certificate of Public Good that authorises NorthStar to own, possess the licenses for, and decommission Vermont Yankee. On October 11, 2018, the US Nuclear Regulatory Commission approved the transfer of Vermont Yankee's operating licenses to NorthStar.

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Publication:International Resource News (IRN)
Date:Jan 14, 2019
Words:236
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