Constellation shelves proposal for Calvert Cliffs reactor

From the Washington Post:

Constellation Energy has shelved its proposal to build a new reactor at its Calvert Cliffs nuclear power plant, Obama administration officials said Friday, even though the administration had decided to award the project a $7.5 billion loan guarantee.

Senior administration officials said Constellation's decision was "a surprise," but a Constellation Energy spokesman Larry McDonnell said that the administration's loan guarantee terms were "unworkable" and that Constellation had told the Energy Department "we can't move forward."

The decision by Constellation deals a blow to the idea of a U.S. nuclear renaissance. Constellation and French power company Electricite de France are partners in Unistar, a joint venture that had intended to make the new Calvert Cliffs reactor the first of a fleet of identical units around the country. They filed the loan guarantee application in July 2007.

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