SOURCE: Mitsubishi Nuclear Energy Systems

Mitsubishi Nuclear Energy Systems

December 26, 2010 21:28 ET

Mitsubishi and Dominion Reach Agreement to Continue Engineering and Planning Work in Support of Future North Anna 3 Nuclear Plant

ARLINGTON, VA--(Marketwire - December 26, 2010) - Mitsubishi Nuclear Energy Systems Inc. (MNES), a wholly-owned subsidiary of Mitsubishi Heavy Industries (MHI) of Tokyo, Japan, and Dominion Virginia Electric & Power Company, which is a subsidiary of Dominion Resources, Inc., have reached agreement to continue pre-construction, engineering, and planning work in preparation for a third unit at Dominion's North Anna Nuclear Power Plant in central Virginia.

Dominion has selected MHI's US-Advanced Pressurized Water Reactor (US-APWR) as the reactor design for its potential third nuclear power generation unit. Based on the agreement, MNES and MHI will continue to advance engineering and planning work for the project, while awaiting Dominion's decision on a construction commencement date. 

"The agreement with Dominion is another milestone in this important project," said Kiyoshi Yamauchi, President and Chief Executive Officer of MNES. 

Dominion amended its application for a combined construction and operating license (COL) to build and operate the North Anna Unit 3, applying the US-APWR design, to the U.S. Nuclear Regulatory Commission (NRC) in late June. The US-APWR Design Certification issuance is scheduled by the third quarter of 2012 as currently published by NRC, followed by the expected issuance of the COL in early 2013.

The US-APWR for Dominion represents the third reactor utilizing the US-APWR design selected by a U.S. utility. In July 2006, MHI established MNES in Washington, D.C., and launched local marketing activities for the US-APWR. In March 2007, Luminant selected the US-APWR design for its Comanche Peak Units 3 and 4 near Dallas.

MHI developed the US-APWR, one of the world's largest and most advanced reactors, 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.

Dominion and its sister companies are leading nuclear power generation companies in the United States, with head offices in Richmond, Virginia. Currently these companies operate seven pressurized water reactors (PWR).

About Mitsubishi Nuclear Energy Systems
Mitsubishi Nuclear Energy Systems, Inc. (MNES), headquartered in Washington, DC, was established by MHI as its wholly owned subsidiary in July 2006, to introduce the US-APWR to the U.S. market. MNES has also established an office near Dallas to further strengthen its coordination with Luminant. For more information, please visit http://www.mnes-us.com.

About Dominion Resources
Dominion Resources 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 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 fiscal 2009 (ended March 31, 2010). MHI's diverse lineup of products and services encompasses shipbuilding, power plants (including nuclear), chemical plants, environmental equipment, steel structures, industrial and general machinery, aircraft, space rocketry and air-conditioning systems. Since 1970, MHI has built 24 PWRs in Japan and has also provided a wide range of support services following operation startup. For more information, please visit http://www.mhi.co.jp/en/index.html.

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