Duke boosts Catawba nuclear stake

7 January 2007

Duke Energy Carolinas and North Carolina Electric Membership Corp (NCEMC) have reached a deal to purchase Saluda River Electric’s ownership interest in unit 1 of the Catawba Nuclear Station on the Catawba River in York County, South Carolina.

Saluda River currently owns approximately 19% of unit 1, with NCEMC and Duke Energy owning the remaining 56% and 25%, respectively of the 1,205 MW Westinghouse-designed PWR unit

The agreements, which are worth $200 million, call for Duke Energy to pay $158 million for the purchase of approximately 72% of Saluda River’s interest and NCEMC to pay $42 million for the remaining 28%.

Following the close of the transaction estimated for mid-2008 NCEMC and Duke Energy will own approximately 62% and 38%, respectively.

Duke Energy is a joint owner and the operator of the two unit 2,258 MW Catawba Nuclear Station with the joint owners of Unit 2 the North Carolina Municipal Power Agency at 75% and Piedmont Municipal Power Agency with the remaining 25%.

Currently, NCEMC owns 56% and Duke owns 25% of Unit 1.


Related Articles
Mine setback hits uranium production
Cigar Lake remediation underway
Pumping resumes at Cigar Lake
Cigar Lake: second shaft completed



Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.