NRG seeks financial support from Japan for new reactors

[bananas]

NRG can't afford to build these even with all the U.S. government handouts,
they have to get some handouts from Japan.

http://www.reuters.com/article/companyNewsAndPR/idUSN2624609720070926?sp=true

NRG seeks support from Japan for new reactors
Wed Sep 26, 2007 6:55pm EDT

HOUSTON, Sept 26 (Reuters) - NRG Energy (NRG.N: Quote, Profile, Research) Chief Executive David Crane said the company hopes to obtain financial support from the Japanese government to help build two new nuclear reactors in Texas.

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"We believe by working with Japanese partners we'll be able to get Japanese financial support which we think will be a big help to the equity in the project and will take a little bit of pressure off the U.S. government's federal support," Crane said.

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In April, the U.S. and Japanese governments signed a joint nuclear energy action plan to provide a cooperative framework to promote expansion of safe nuclear power.

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While details of any potential Japanese financial support efforts have not been finalized under the agreement, Crane said Japan changed an existing policy recently to extend financial support to projects like the STP expansion if the project benefits Japan's strategic industries, including nuclear.

While the U.S. Energy Policy Act of 2005 created federal loan guarantees of up to 80 percent of the cost of new reactors, Crane said he thinks the U.S. government will look more favorably on applicants that do not seek the maximum amount allowed.

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