Posted by: Lawyer Sanders | May 24, 2010

Kentucky environmental attorney Sanders says U.S. DOE makes $2 Billion loan guarantee + an additional $2 Billion to support enrichment technology at Eagle Rock Enrichment Facility in Idaho.

U.S. Department of Energy made a $2 billion loan guarantee to AREVA’s Eagle Rock Enrichment Facility near Idaho Falls, Idaho, which will supply uranium enrichment services for the U.S. nuclear power industry. The Idaho Falls facility will use advanced centrifuge technology instead of the more energy-intensive gaseous diffusion process.

Although Eagle Rock will be only the second plant to use this technology in the US, it has been employed in Europe for about 30 years to enrich uranium for the commercial power market. The project’s technology uses 95 percent less electricity than the gaseous diffusion technology it replaces, reducing both energy use and environmental effects.  Areva estimates construction of the Eagle Rock facility will create 1,000 jobs. The total project is expected to cost approximately $3.3 billion.

The project must obtain a Combined Construction and Operating License from the Nuclear Regulatory Commission before the loan guarantee can be finalized. In addition to the $2 billion in loan guarantee authority under the 2009 Omnibus Bill, the Energy Department has made available an additional $2 billion to support uranium enrichment technology from loan authority provided in 2007.

This is the ninth project to be offered a conditional commitment by the Department of Energy since March, 2009. Learn more about the Loan Guarantee Program.

Hey bro, can you spare $4 Billion or so for good old Kentucky’s Paducah enrichment facility?

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