KEWAUNEE, Wis. (WTAQ) - For the second time in six years, the Kewaunee nuclear power plant is up for sale.
Dominion Resources said Thursday it would sell the facility because the company could not carry out a strategy to buy additional power plants and then, “build a business around that portfolio.”
Dominion’s CEO, Thomas Farrell II, said the firm was not successful in winning auctions to buy other plants, so selling Kewaunee makes sense. Dominion bought the plant in 2005 from Wisconsin Power and Light and the Wisconsin Public Service utility for $220 million.
Farrell did not disclose a new asking price. The impending sale was announced during a conference call with investors on the company’s most recent quarterly earnings.
Farrell said Dominion improved the plant’s operating and safety performance to among what he called the “best in the industry.”
The Kewaunee nuclear plant was recently given a 20-year renewal of its federal operating license. It now runs until 2033.