NorthStar makes new promises in Vermont Yankee sales deal

Facing a second round of questions from federal regulators, the proposed buyer of the Vermont Yankee nuclear plant is sweetening its offer.

In newly released documents filed with the Nuclear Regulatory Commission, New York-based NorthStar Group Services is pitching financial, administrative and regulatory tweaks designed to alleviate the NRC’s concerns about the Yankee deal.

At the same time, NorthStar is standing by its original plans and is underscoring its financial strength to manage and complete the accelerated decommissioning of the Vernon site.

“NorthStar currently generates approximately $500 million in annual revenue from multiple service lines, providing a source of recurring earnings and cash flow that is independent of (the Vermont Yankee project),” administrators wrote.

Read more: https://vtdigger.org/2018/05/24/northstar-makes-new-promises-in-vermont-yankee-sales-deal/