Iowa’s only nuclear plant is said to stimulate $255 million in economic activity in the state, and about half a billion nationally…
Duane Arnold announced on July 27, 2018 that it would permanently close its doors by 2020. The plant, located outside Cedar Rapids, is a General Electric boiling water reactor that generates about 615 megawatts of power each year.
But because of the economic climate, it will be more advantageous for its owners to accept an early buyout of its power purchase agreement and invest in renewable power sources, like wind:
Alliant Energy has agreed to pay NextEra Energy Resources $110 million in 2020 to shorten the DAEC PPA by five years.
NextEra Energy Resources say they’ll invest a roughly $650 million in existing and renewables by the end of 2020. Of that money, about $250 million is expected to go towards four wind facilities. By opening the wind facilities, an estimated 200 construction jobs will be created during the process.
The powering of the new wind facilities should generate around 340 megawatts of electricity for Alliant Energy customers.
Reports say that approximately 540 employees will eventually lose their jobs once the plant ceases operations. By 2025, the staff level is expected to drop to 50 people while decommissioning progresses.
Nuclear decommissioning can take up to 60 years to complete if the SAFSTOR option is invoked. The intent behind SAFSTOR is to allow most of the radioactivity within the plant to decay significantly, which would make the dismantling process safer for workers.