If the two license applications to build nuclear power plants in Texas are approved, the Market Vectors Global Nuclear Energy (NLR) exchange traded fund (ETF) could be affected. Having just launched in August, NLR is currently up 3.1% for the month.
The two new plants would be the first nuclear power plants to be built in almost three decades, reports Ford Gunter for the Houston Business Journal. The project’s goal is for NRG Energy (NRG) and the South Texas Project Nuclear Operating to power more than 2 million homes with no greenhouse gas emissions. If approved, the new units would be available by 2014 and 2015. The building of the new plants could bring about $9 billion to the area and create up to 6,000 construction jobs and 800 new permanent positions at the plants. If this project pans out, then we could see more nuclear power plants built in other areas of the country, benefiting the nuclear power industry.
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