Page 16: of Marine News Magazine (December 2018)

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INSIGHTS

U.S., our price is above the market price for electricity. We of an industry, nuclear power became competitive and a are the recipients of a Department of Energy grant for $40 very good source of zero carbon energy. It takes time, it million, which will help defray some of the costs. We also takes scale, and it takes government support. As the indus- will take advantage of some potential tax credits, assuming try grows I have no doubt we will be competitive. It’s just they still exist when we go to build. We always knew we going to take time to get there.

would be above the market price for electricity, but what I

J: So, the initial infrastructure, you’re going to amor- can tell you is that in Europe, where this industry started tize that to a point where that’s paid for, and once it in 1991 and really, in earnest, over the last 15 years, it is is, then the cost of the energy will come down a bit. now cheaper than coal or nuclear, and so it is competitive

Would you agree with that?

at scale. And if we look at the east coast and the US, the

Yes. Absolutely.

target pricing for the Maryland, Massachusetts and Rhode

Island projects will be about half of what Block Island was.

Where do you intend to get your blades and build the

And so they’re not going to be at market yet, but I think jackets for these things, and you’ve got these steel that they’re de