The Jacksonville Electric Authority (JEA) has signed an agreement with Duke Energy for the option to buy up to 20 percent of the generation capacity from Duke’s planned 2,234-megawatt Lee nuclear power plant in South Carolina.

Under the terms of the agreement, JEA will have the option to purchase approximately 440 MW of annual capacity from Duke’s proposed nuclear power plant with an initial $7.5 million option investment which would be applied toward the purchase if they proceed with the deal.

JEA will have 90 days following federal licensing approval of Duke’s proposed Lee nuclear plant to decide if it will exercise the purchase option.

Duke anticipates approval of construction and operating licenses by 2013, with commissioning of the Lee reactors by 2020.

Duke’s proposed Lee nuclear power plant would feature two Westinghouse AP1000 pressurized water reactors and will cost an estimated $11 billion to complete.

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