Westinghouse bids for Czech Republic (press release)

Below is a press release from Westinghouse Electric.

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Westinghouse Submits Bid For AP1000® Plants In Czech Republic

-- Competitive Bid to CEZ Delivers Turnkey Dual-unit AP1000 Plant to Complete Temelin Project

PRAGUE, July 2, 2012 /PRNewswire/ -- Westinghouse Electric Company today announced that it has submitted a fully compliant and competitive bid to CEZ, a. s. to develop and deliver a turnkey dual-unit AP1000 plant for completing the Temelin Nuclear Power Plant Units 3 and 4 Project.

Westinghouse is eager to build upon its demonstrated success in the Czech Republic on Temelin Units 1 and 2. And, with more than 50 years of worldwide experience leading the nuclear industry, including current construction projects in the U.S. and China based on the advanced and certified AP1000 standard plant design, Westinghouse is confident in meeting the design, supply, construction, licensing and project criteria established by CEZ for the completion of the Temelin Project.

"Westinghouse's proposal meets or exceeds all mandatory requirements established in the Temelin Tender to provide CEZ with the most economically advantageous proposal," said Westinghouse Electric Company interim President and CEO Shigenori Shiga. "We are proud of the significant effort and investment we have made over the past 20 years to develop the AP1000 and are confident that CEZ will benefit from the safest and most reliable next generation nuclear plant built available on the worldwide marketplace, and at the overall lowest total installed and operating costs. We now look forward to working collaboratively and actively with CEZ throughout the evaluation and negotiation phases to further refine the bid and details of the project to ultimately achieve a mutually acceptable agreement for completing the project."

Westinghouse has formed a winning delivery team by bringing together the proven design and construction skills of Westinghouse and Toshiba Corporation, combined with the leading Czech construction company Metrostav a.s and Czech nuclear safety instrumentation and control company, I&C Energo s.r.o. The Westinghouse/Czech team will continue to add local partners in the coming weeks and months that will not only bring benefits to the Czech economy, but, just as importantly, complete Temelin at the highest of international standards while achieving schedule and budget commitments. As the AP1000 pressurized water reactor (PWR) is the most advanced nuclear plant design in the world, significant engineering, construction and manufacturing expertise will be transferred to Czech companies, providing substantial opportunities in future nuclear plant projects throughout the world.

Safety is at the epicentre of any nuclear project. The AP1000 design is the only PWR design that includes advanced passive safety systems and extensive plant simplifications to enhance plant safety, construction, assembly, operation and maintenance. The plant design also uses proven, standardized technology, which is based on 50 years of operating PWR experience

The Westinghouse AP1000 reactor received Design Certification Amendment from the U.S. Nuclear Regulatory Commission (NRC) in December 2011. Earlier that same month, the AP1000 was issued Interim Design Approval in the Generic Design Assessment (GDA) process from the U.K. Office for Nuclear Regulation. The AP1000 nuclear power plant is also compliant with European Utility Requirements (EUR), confirming that it can be successfully deployed in Europe. Moreover, the AP1000 PWR is the only Generation III+ design in the world to have received both U.S. and European regulatory approvals.

Currently, contracts for 10 AP1000 reactors have been placed around the world: four in China and six in the U.S. Nuclear safety construction recently commenced on four AP1000 units in the U.S. after utilities there received combined construction and operating licenses (COL) from the U.S. NRC. First concrete pour is scheduled to occur on the first two AP1000 units in late summer to early fall. In China, construction of the four AP1000 units there is progressing well and remains on schedule, with the first AP1000 unit on track to produce electricity by the end of 2013.

Westinghouse Electric Company, a group company of Toshiba Corporation (TKY: 6502), is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first pressurized water reactor in 1957 in Shippingport, Pennsylvania. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including the design and supply of more than 25 commercial nuclear units across Europe.

SOURCE Westinghouse Electric Company

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1:45 PM Eastern 7/2/2012
ATOMIC POWER REVIEW