A Letter from Tim Powell: Toshiba withdraws from STP Units 3 and 4

   Toshiba Corporation announced May 31 that Toshiba America Nuclear Energy Corporation is withdrawing from the effort to build South Texas Project Units 3 and 4. 
   This decision was based on their belief that under expected economic conditions, further development of STP Units 3 and 4 has ceased to be financially viable.
   In the coming weeks, we expect a meeting of NINA’s Board of Directors to determine the future of STP Units 3 and 4. 
   At STP, we want to thank the Community for their support of the effort to bring Units 3 and 4 to fruition.  
  Countless hours of hard work have been dedicated toward the development of Units 3 and 4.  While we are disappointed to find ourselves in the position we are in today, I am proud of the work we’ve done, working together, to reach this goal. 
   While the further development of Units 3 and 4 are in question, I want to assure you that the safe and reliable operation of Units 1 and 2 remains the commitment of each and every employee at STP. 
   These units continue to be vital to the resilience and reliability of the Texas grid and we are focused on maintaining the exemplary performance we have achieved and creating further value for the community we call home. 
   Again, I want to express the appreciation STP has for this community, its leaders, and all of the incredible people who have offered their ongoing support to our mission. 
   With our recently granted 20-year life extension for Units 1 and 2, that mission will continue today, tomorrow and for many years to come. 
   STP remains a proud partner of Matagorda County and the South Texas region for over 30 years and will remain so as we continue to move forward.

 

 

Tim Powell
President and Chief Executive Officer
STP Nuclear Operating Company

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