Thursday, March 4, 2010

Chu: DOE close to award of $2B loan guarantee to Areva

The $2 billion measure would aid financing of the Eagle Rock Enrichment Facility in Idaho

Dow Jones reports Mar 5 U.S. Energy Secretary Steven Chu said that his department is "closing in" on a final decision for a loan guarantee for Areva's nuclear project in Idaho.

In testimony before a Senate appropriations committee Mar 5, Chu was asked why the nuclear loan guarantee is taking so long to award and said: "We're closing in on that."

Reuters reports that Chu complained to the committee that the loan guarantees are a very big deal. He said there is a lot of money is involved and the process that is involved in making a decision is very complicated.

Sen. Bob Bennett (R., Utah) said due diligence on the Eagle Rock uranium enrichment project was completed in October.

Prior coverage on this blog

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