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NRC approves Pilgrim license transfer to Holtec

The U.S. Nuclear Regulatory Commission approved the transfer of licenses for Entergy Corp.'s 683-MW Pilgrim Nuclear Power Station to decommissioning specialty company Holtec International Inc.

In its order the commission noted that Holtec met all requirements to safely decommission the plant, including technical and financial qualifications. Entergy has said Holtec intends to complete plant decommissioning decades earlier than if it continued to own the facility. Holtec International will be the owner, while its subsidiary Holtec Decommissioning International, or HDI, will serve as the decommissioning operator.

The NRC said in an Aug. 23 release that the order approving the license transfer is effective immediately, but the license transfer will not be finalized until the successful completion of the transaction between Entergy, Holtec and HDI.

Entergy unit Entergy Nuclear Inc. closed the nuclear power station in Plymouth, Mass., after 47 years of operation. Though the power plant was licensed to operate until 2032, Entergy announced the planned shutdown in October 2015, citing unfavorable market conditions.

"The sale of Pilgrim is another important milestone in Entergy's exit from merchant power markets, with previously announced signed agreements for the sale of Indian Point and Palisades following shutdowns in 2021 and 2022, respectively," Entergy Chairman and CEO Leo Denault said in an Aug. 23 company release.