White & Case Represents Nuclear Innovation North America in $155 Million Nuclear Plant Deal

New York, May 12, 2010 ... Global law firm White & Case LLP represented Nuclear Innovation North America LLC (NINA), the nuclear development company jointly owned by NRG Energy, Inc. and Toshiba Corporation, in a US$155 million agreement with The Tokyo Electric Power Company (TEPCO) to invest in two new nuclear units being built at the South Texas Project near Houston, TX.

Under the agreement, TEPCO, which is Asia's largest utility, will purchase a 10% stake in NINA, representing the first time a Japanese power utility has invested in an US nuclear power project. The initial $155 million investment by TEPCO includes a US$30 million option that would give it the right to acquire an additional 10% stake in NINA for US$125 million. The South Texas Project seeks to build two advanced boiling-water reactors, each with output of around 1,350 megawatts, and will be the first project in the United States to feature this technology.

Partners Daniel M. Latham and Arthur A. Scavone co-led the deal, assisted by partners Bill Dantzler and Jeremy Naylor and associates Nicholas V. Marchica, Marius Griskonis, Heather Giannandrea and Richard Chen.

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