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Dominion Virginia Power Selects Mitsubishi's US-APWR Reactor Design for Possible Expansion at North Anna Nuclear Plant

^{Published on 2010-05-07 08:30:26 - Market Wire}
 

ARLINGTON, VA--(Marketwire - May 7, 2010) - The US-APWR reactor design of Mitsubishi Heavy Industries, Ltd. (MHI) has been selected by Dominion Virginia Power as the prospective reactor for its potential third nuclear power generation unit at the North Anna Power Station in central Virginia.

The station, located on Lake Anna, 45 miles northwest of Richmond, Va., now has two nuclear units producing 1,842 megawatts of electricity for customers of Dominion Virginia Power and minority owner Old Dominion Electric Cooperative. The Mitsubishi US-APWR technology would be introduced for construction of Unit 3 if the company decides to go forward with the project.
Mitsubishi Nuclear Energy Systems Inc. (MNES), MHI's wholly-owned subsidiary in Arlington, Va., proposed the design on behalf of MHI.

Dominion Virginia Power's prospective selection of MHI's reactor technology was the result of a competitive process conducted by the utility that involved bids from global reactor vendors. The design is among the world's largest advanced-pressurized-water reactors (APWR), capable of powering more than 360,000 U.S. homes. In 2007, Texas-based Luminant selected the US-APWR design for its Comanche Peak Units 3 and 4 south of Fort Worth, Tex.

"We believe the selection of the US-APWR by Dominion Virginia Power reflects the US-APWR's excellent economy, proven safety and long-term reliability in meeting increasing demand for electricity forecasted for Virginia, and adding to the company's portfolio of electrical generating facilities to meet this new load growth," said Kiyoshi Yamauchi, President and Chief Executive Officer of MNES. "It also shows confidence in MHI's track record of building 24 nuclear power plants and having the resources to provide R&D, manufacturing, construction and maintenance to our customers."

MHI developed the US-APWR based on technologies for a 1,538 MW APWR intended for use at the Tsuruga Power Station (Units 3 and 4) of the Japan Atomic Power Company. A variety of modifications were added to meet the demands of U.S. utility customers for enhanced performance, including the world's highest level of thermal efficiency, a 20% reduction in plant building volume, a 24-month fuel cycle, and greater economy through increased power generation capacity.

To date MHI has built 24 pressurized water reactors in Japan and has exported numerous components for nuclear power plants to U.S. utilities, including reactor vessel heads, control rod drive mechanisms and steam generators. MHI first entered the U.S. nuclear market in 2002 through an order from Dominion for a replacement reactor vessel closure head and control rod drive mechanism at its Surry and North Anna nuclear plants, respectively.

Dominion must obtain a combined construction and operating license from the NRC as well as an agreement from Virginia State Corporation Commission, to construct a new nuclear unit at North Anna.

Dominion Virginia Power is a subsidiary of Richmond-based Dominion (NYSE: [ D ]), one of the largest producers and transporters of energy in the United States, with a portfolio of more than 27,500 megawatts of generation, 12,000 miles of natural gas transmission, gathering and storage pipeline and 6,000 miles of electric transmission lines. Dominion operates the largest natural gas storage system in the U.S. with 942 billion cubic feet of storage capacity and serves retail energy customers in 12 states. The company operates seven nuclear units at four U.S. locations.

About Mitsubishi Nuclear Energy Systems, Inc.
Mitsubishi Nuclear Energy Systems, Inc. (MNES), headquartered in Arlington, VA, was established by MHI as its wholly owned subsidiary in July 2006 to introduce the US-APWR to the U.S. market. The company is involved in the application for the NRC Design Certification of the US-APWR, and is working with U.S. utilities to attract orders for the US-APWR and for large-scale reactor replacement components. MNES has an office near Dallas that works with Luminant in managing the project to build Comanche Peak Units 3 & 4. The company also has an office in Pittsburgh that provides Nuclear Services to U.S. utilities. For more information, please visit the MNES Web site at [ http://www.mnes-us.com ].

About Mitsubishi Heavy Industries
Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers, with consolidated sales of 2,940.8 billion yen in the fiscal 2009 (year ended March 31, 2010). MHI's diverse lineup of products and services encompasses shipbuilding, power plants, chemical plants, environmental equipment, steel structures, industrial and general machinery, aircraft, space rocketry and air-conditioning systems. For more information, please visit the MHI website
[ http://www.mhi.co.jp/en/index.html ]