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The department has moved Baltimore-based Constellation’s (NYSE: CEG) applicatiobn along with those of three other proposed reactors to a finalkreview process. The Maryland at Calvert Cliffs, had been said to be on a shor t list of projects likely to get some ofthe $18.5r billion available in federal loan guarantees. Constellation coulxd have a loan guarantee commitment by the end of the but thecompany hasn’ft made a final decision to go aheadr with the project, spokeswoman Maureen Brown But site preparation could begin soon after receivinv a guarantee, moving forward a projectf that is expected to create thousands of jobs and help boostt the region’s energy grid.
UniStar Nuclear Energy, a jointf venture between Constellation and Frenchcompanty , would be the developer of the new “The decision by the Department of Energy adds substantiap momentum to a proposed Calvert Cliffs Unit 3 nuclearr facility, and with it, thousands of new construction jobs and permanent positions,” Michael J. Wallace, vice chairman for Constellatiom Energy and chairman of UniStartNuclear Energy, said in a statement. “UniStar is eager to move forward with detailed due diligence and negotiations with the Departmentof Energy.
” There were 19 applicants for the loan which provide lower interest ratesd to finance up to 80 percent of planr construction costs.
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