Environment & Public Lands
4:57 pm
Mon January 7, 2013

Environmentalists Wary of EnergySolutions Acquisition

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Salt Lake City nuclear waste company EnergySolutions announced Monday that it will be acquired by private equity firm Energy Capital Partners.  But numerous parties are questioning the deal, including HEAL Utah.   The environmental organization's Policy Director Matt Pacenza told KUER that he is wary about a private equity firm managing nuclear waste. 

“Our fear is that a company like this might be interested in aggressively trying to get as much new revenue as they can, and also to cut costs,” said Pacemza, “When you’re in a business like nuclear waste, that sort of short term thinking raises some particular issues for us.” 

Pacenza is worried that New Jersey based Energy Capital Partners may look to fast-track controversial waste disposal in Utah – including depleted uranium, blended nuclear power plant waste, or waste from foreign countries. 

Meanwhile, several law firms are investigating whether the EnergySolutions board acted improperly by not getting a better price for shareholders.  The transaction is valued at 1.1 billion dollars.  Stockholders would receive $3.75 for each share of stock they own if the deal goes through. As part of the pending deal, EnergySolutions can consider other offers until February 6th.