"A Nuclear Giant Moves Into Wind"

"Exelon, the nuclear giant that recently backed away from building new nuclear plants, is moving into wind.

The company announced on Wednesday that it was buying John Deere Renewables, which has 735 megawatts in operation and 230 megawatts in 'advanced stages of development' in Michigan. The price was $860 million, plus $40 million if ground is broken on the Michigan projects.

In March, Exelon withdrew its application for a construction and operating license for a twin-unit nuclear plant in Victoria County, Tex., citing lower projections for electric demand because of the recession. It had stopped work on the application last year. Instead, it asked the Nuclear Regulatory Commission for preapproval of the site, which would speed up the approval process if it decided later that it wanted to build. But the decision left the country’s largest nuclear operator without a direct role in what the nuclear industry hopes is a renaissance."

Matthew L. Wald reports for the New York Times August 31, 2010.

Source: Green (NYT), 09/02/2010