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New York & Tri-State  + Fairfield/Westchester  + Industrial  | 

NYS Finalizes Agreement for Sale and Decommissioning of Indian Point Nuclear Facility

New York State’s Public Service Commission on Wednesday approved the sale of the Indian Point nuclear power facility in Buchanan, NY to Holtec International subsidiaries. The agreement approved by the PSC provides for the transfer of the Westchester County facility to Holtec for a swift, complete and safe decommissioning and site remediation.

“As Governor and previously as Attorney General, I have been deeply concerned with the safety of the Indian Point nuclear power facility given its proximity to some of the most densely populated areas in the nation,” said Gov. Andrew Cuomo. “After years of relentless work with our federal, state, and local partners, we have finally been able to close it safely and responsibly and will now move on to the decommissioning phase.”

Under the agreement, Holtec is required to maintain a minimum balance of no less than $400 million in the decommissioning trust fund for 10 years.

Indian Point photo courtesy of Entergy.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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