AREVA Submits Part II of DOE Loan Guarantee Application for Eagle Rock Enrichment Facility
December 02, 2008
December 2, 2008
AREVA announced it has submitted to the U.S. Department of Energy Part II of its loan guarantee application for its Eagle Rock Enrichment Facility, which the company is developing near Idaho Falls, Idaho. AREVA submitted Part I of the application in late September.
The DOE loan guarantee program is designed to encourage investment in innovative nuclear energy projects in the United States, such as new reactors and uranium enrichment facilities. In Part II of its application, AREVA provided additional information about facility engineering, construction, operating and business plans. The submission also included a credit assessment from a nationally recognized rating agency.
The state-of-the-art Eagle Rock Enrichment Facility will use advanced centrifuge technology, recognized worldwide as the benchmark for performance, reliability, and economics. This technology offers significant improvements over current enrichment technology used in the United States.
“The loan guarantee is a critical step in our steadfast effort to rebuild America’s nuclear infrastructure and secure its future supply of enrichment. AREVA is fully committed to the project and believe we have submitted to DOE a very strong application with a solid financial plan that meets or exceeds the requirements of the loan guarantee program,“ said General Manager of Strategic Enrichment Program Sam Shakir.
AREVA is a world leader in enrichment services technology and the leading nuclear vendor in the United States. The company plans to submit a license application to the U.S. Nuclear Regulatory Commission for its Eagle Rock Enrichment Facility in December.