TEPCO to Invest in South Texas Nuclear Plant Expansion

Skadden is representing the Tokyo Electric Power Company, Inc. (TEPCO), which entered into an agreement with Nuclear Innovation North America LLC, a nuclear development company jointly owned by NRG Energy, Inc. and Toshiba Corporation, to acquire a 10 percent interest in the planned expansion of the South Texas Project nuclear plant. TEPCO's investment, announced May 10, marks the first time a Japanese utility has invested in an overseas nuclear power project. This will be the first project in the United States to utilize Advanced Boiling Water Reactor technology.