Source: Shaw Group Inc.
The Shaw Group Inc. (NYSE:SHAW), along with its AP1000 Consortium team member, Westinghouse, announced it received full notice to proceed from South Carolina Electric & Gas (SCE&G), principal subsidiary of SCANA Corp., on its engineering, procurement and construction (EPC) contract for two Westinghouse AP1000® nuclear power units and related facilities.
Owned by SCE&G and Santee Cooper, the project received approval from the South Carolina Public Service Commission for its new nuclear plants in February 2009. In March 2012, SCE&G received its combined license (COL) from the U.S. Nuclear Regulatory Commission for the new nuclear units at V.C. Summer Nuclear Station near Jenkinsville, S.C.
The contract previously was announced in May 2008 with limited amounts booked into backlog at that time. The undisclosed balance of the contract will be added to the company's backlog of unfilled orders in the third quarter of fiscal year 2012.
“Today’s action gives Shaw full authorization to provide EPC services for the two new nuclear units at V.C. Summer,” said J.M. Bernhard, Shaw’s chairman, president and chief executive officer. “Shaw’s leadership in the nuclear industry, coupled with Westinghouse’s AP1000 technology, will deliver the world’s most advanced, emission-free power plant to V.C. Summer.”
Shaw and Westinghouse currently are building four new nuclear units in the United States, with two units each at V.C. Summer and Southern Co.’s (NYSE:SO) Plant Vogtle, and with two more units under contract for Progress Energy (NYSE: PGN) in Florida. These projects represent the first contracts awarded in nearly 30 years for new nuclear builds. Shaw also is providing engineering, procurement, commissioning, information management and project/construction management services for four AP1000 nuclear units currently under construction in China.
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