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Peco Energy Takes 10% Stake in South Africa Nuclear Project
Peco Energy Takes 10% Stake in South Africa Nuclear Project
Philadelphia, Aug. 30 (Bloomberg) -- Peco Energy Co., the owner of
Philadelphia's electric utility, said it paid $7.5 million for a 10
percent stake in a project run by South Africa's Eskom that plans to
build nuclear power plants.
Eskom and Industrial Development Corp. together own more than half
the project, Peco spokesman William Jones said. Both are controlled
by South Africa's government. British Nuclear Fuels Plc, the U.K.'s
nuclear-fuel processor, also has a stake.
The project is developing reactors that will produce about 110
megawatts of power, enough to light 110,000 U.S. homes. They will be
about one-tenth the size of U.S. reactors and will be prefabricated,
reducing construction costs, Jones said.
Helium will cool the reactors instead of water, improving safety,
Jones said. The partners will conduct studies and seek regulatory
approvals before deciding late next year whether to proceed with
construction, Jones said.
Peco has been buying U.S. nuclear reactors through its AmerGen Energy
Co. joint venture with British Energy Plc. The Philadelphia-based
company is merging with Chicago utility owner Unicom Corp.
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Sandy Perle Tel:(714) 545-0100 / (800) 548-5100
Director, Technical Extension 2306
ICN Worldwide Dosimetry Division Fax:(714) 668-3149
ICN Biomedicals, Inc. E-Mail: sandyfl@earthlink.net
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Costa Mesa, CA 92626
Personal Website: http://www.geocities.com/capecanaveral/1205
ICN Worldwide Dosimetry Website: http://www.dosimetry.com
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