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SALT LAKE CITY (AP) — Nuclear energy services provider EnergySolutions Inc. said Wednesday it has closed its agreement with the owners of an Illinois nuclear power plant to begin cleaning up the site.
The agreement transfers the Nuclear Regulatory Commission licenses from Exelon Nuclear to EnergySolutions’ subsidiary ZionSolutions and clears the way for cleanup work to begin at the plant in Zion, Ill., 40 miles north of Chicago.
Salt Lake City-based EnergySolutions has said it expects the work to take about 10 years to complete and cost around $1 billion.
The Zion Station plant occupies 200 acres next to Lake Michigan.
EnergySolutions is to dispose of Zion’s low-level radioactive waste at its facility in Clive, Utah. Spent nuclear fuel will go into NRC-approved containers on a cement pad at the plant site.
In afternoon trading, EnergySolutions shares rose 27 cents or 6 percent to $4.81.