Westinghouse Confirms Proposal Made to Lithuania Ministry of Energy

June 1, 2011

PITTSBURGH, June 1, 2011 /PRNewswire/ — Westinghouse Electric Company can confirm that it has made a proposal regarding the planned nuclear new build project for the Visaginas site in the Republic of Lithuania. Westinghouse sees Lithuania as an important market because it is a mature market with significant nuclear experience, and this project has a strategic significance across the whole Baltic Region.

We are pleased to see that the Lithuanian authorities recognize the important role which nuclear energy plays in promoting energy security and in helping to reduce carbon emissions, and we are looking forward to working with the Lithuanians and their Regional Partners during the next stage of the process to help outline the benefits of our offering.

This is a competitive situation, and we do not propose to disclose any details of our commercial proposition at this stage. However we believe we have made a strong commercial proposal, which offers the right technology (AP1000) under the right commercial conditions.

The AP1000 reactor is the only Generation III+ design close to being fully licensed in both the US and the EU. It has fully passive safety features, based on natural forces such as gravity and natural circulation, which can always be relied upon to perform as intended. As a result, the reactor remains safe under any credible circumstances, including the loss of all AC power. This, combined with lowest operating costs and a strong record of on time on budget construction, provides clear reasoning for Lithuania to select AP1000 as the reactor technology for its program.

Notes to Editors:

Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world’s pioneering nuclear power company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world.

SOURCE Westinghouse Electric Company

Source: newswire

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