Apparently so:
The repercussions from an earthquake that has rocked nuclear facilities in Japan threaten to shake up the financial grounding of a proposed power plant expansion in Texas.
A Japanese company that owns the distressed Fukushima Daiichi power plant had figured to own as much as 20 percent of two proposed reactors at the South Texas Project . But with the company, Tokyo Electric Power Co. , reeling from reports of radiation leaks, financial analysts on Monday called the deal uncertain.
Some of the South Texas Project electricity is shipped to Austin, which is a part-owner of the two current reactors. The city is considering whether to buy more power from the two proposed reactors.
Tokyo Electric had agreed to spend $155 million to become a 10 percent owner of two proposed reactors at the South Texas Project.
That money, which included an option to spend an additional $125 million for another 10 percent stake, was contingent on potential federal loan guarantees. With Washington now reconsidering nuclear power, those loan guarantees have become a very open question.
