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RGA Labs makes pitch to buy Kewaunee Nuclear Power Station

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TOWN OF CARLTON, WI (WTAQ) - Residents in Kewaunee County are not quite sure what to make of the news that someone is interested in reopening the area's nuclear plant.

“I’d like to believe that it will happen, but I don’t think so,” Douglas Swanson, a contractor for the plant, told FOX 11.

Thursday evening, the President of RGA Labs, Inc. Bob Abboud unveiled his company's plans to buy the plant to over 100 residents at the Carlton Town Hall. RGA Labs is an Illinois-based engineering company.

“We think it has an excellent business opportunity for 20 plus years into the future,” Abboud told FOX 11.

However, U.S. nuclear officials say a lot has to happen before business can take place. First, RGA Labs has to meet guidelines to buy a nuclear plant. The company would also need to go through a several year application process for an operator's license.

Before any of that can be considered, the current plant owner, Dominion, must be willing to sell.

“Since Kewaunee is shut down, it’s not like your just transferring a plant that’s operating over to another company,” said Prema Chandrathil, a spokesperson for the U.S. Nuclear Regulatory Commission. “They would need to go through the licensing process as if it were a whole new reactor all over again.”

A Dominion spokesperson says nothing has changed for the company and that they're continuing with the plant’s decommissioning process and it is not currently for sale.

RGA Labs says it would purchase the plant for tens of millions of dollars. The company projects it could make a profit of $100 million per year.

The U.S Nuclear Regulatory Commission says no one from RGA Labs has contacted them yet about obtaining a license.

(Additional reporting by FOX 11).

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