|Calvert Cliffs Nuclear Plant|
The decision follows warnings from the Nuclear Regulatory Commission in April 2011 that UniStar Nuclear Energy, which is owned by Electricite de France, is not eligible to control the proposed $9.6 billion Calvert Cliffs 3 project under its current ownership structure. Federal law prohibits a foreign entity from completely owning or controlling a U.S. nuclear plant.
Regulators said in April 2011 that they would continue to process EDF's existing application for licensing while the company sought a partner.
The board said Thursday that while "60 days may seem a short period of time in which to obtain a domestic partner," UniStar has already had two years to do so. Until November 2010, UniStar had been owned in "near-equal shares" by Constellation Energy Group and EDF, the judges wrote.
But after Constellation pulled out of negotiations with the Department of Energy over a federal loan guarantee considered critical to the project, EDF acquired Constellation's 50 percent interest in UniStar and decided to push forward with the project on its own. (The Baltimore Sun, 8/30/2012)