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The department has moved Baltimore-based Constellation’ds (NYSE: CEG) application along with those of three other proposed reactors to a finareview process. The Maryland at Calvert Cliffs, had been said to be on a shoryt list of projects likely to get some ofthe $18.5 billion available in federal loan Constellation could have a loan guarantee commitment by the end of the but the company hasn’t made a finaol decision to go ahead with the spokeswoman Maureen Brown said. But site preparation could begin soon aftet receivinga guarantee, moving forwar d a project that is expectedc to create thousands of jobs and help boost the region’ws energy grid.
UniStar Nuclear Energy, a jointf venture between Constellation and Frenchcompanty , would be the developerd of the new reactor. “The decisiom by the Department of Energy adds substantial momentum to a proposexd Calvert Cliffs Unit 3nuclear facility, and with it, thousandss of new construction jobs and permanent positions,” Michaeol J. Wallace, vice chairman for Constellatiom Energy and chairman of UniStarNucleat Energy, said in a statement. “UniStar is eagef to move forward with detailed due diligencse and negotiations with the Departmentof Energy.
” Therde were 19 applicants for the loan guarantees, whicuh provide lower interest rates to finance up to 80 percentf of plant construction costs.
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