Constellation Drops Nuclear Plan

Constellation Energy Group Inc. has scrapped a plan to borrow $7.5 billion with guarantees to build a nuclear reactor.
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Constellation Drops Nuclear Plan
A cooling tower at the Isar 1 and 2 nuclear power plant is pictured at dusk on near Landshut, Germany. Constellation Energy Group Inc. has scrapped a plan to borrow $7.5 billion with guarantees to build a nuclear reactor. (Miguel Villagran/Getty Images )
10/11/2010
Updated:
10/1/2015
<a><img src="https://www.theepochtimes.com/assets/uploads/2015/09/103771277.jpg" alt="A cooling tower at the Isar 1 and 2 nuclear power plant is pictured at dusk on near Landshut, Germany. Constellation Energy Group Inc. has scrapped a plan to borrow $7.5 billion with guarantees to build a nuclear reactor. (Miguel Villagran/Getty Images )" title="A cooling tower at the Isar 1 and 2 nuclear power plant is pictured at dusk on near Landshut, Germany. Constellation Energy Group Inc. has scrapped a plan to borrow $7.5 billion with guarantees to build a nuclear reactor. (Miguel Villagran/Getty Images )" width="320" class="size-medium wp-image-1813627"/></a>
A cooling tower at the Isar 1 and 2 nuclear power plant is pictured at dusk on near Landshut, Germany. Constellation Energy Group Inc. has scrapped a plan to borrow $7.5 billion with guarantees to build a nuclear reactor. (Miguel Villagran/Getty Images )

Constellation Energy Group Inc. has scrapped a plan to borrow $7.5 billion with guarantees to build a nuclear reactor with France’s Electricite de France SA (EDF) in Maryland. The two companies’ joint venture, UniStar Nuclear Energy, needed around $7.5 billion in U.S. government loan guarantees, but decided that the costs were too high and too risky for Constellation. “We no longer see a timely path to reaching a workable set of terms and conditions,” Constellation said in a recent statement. The project was planned for a nuclear reactor in Calvert County, Md., the Baltimore-based energy firm said. Analysts say that the move limits EDF as its latest plans to expand into the United States have been put on hold.