EDF says it is willing to build reactor itself

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Electricite de France is ready to move forward alone if necessary to build a third nuclear reactor at Calvert Cliffs in Maryland, a company executive wrote in a letter Wednesday.

Thomas Piquemal, EDF’s executive vice president of finance, wrote to Constellation Energy Group Inc. that EDF is prepared to immediately purchase all of Constellation’s interest in the two companies’ joint venture UniStar Nuclear.

The venture has the potential to create 4,000 jobs and ease Maryland’s electricity shortage, officials have said previously.

EDF, which bought out nearly half of Constellation’s nuclear operation about two years ago, would then move forward with the development phase of the project entirely on its own with plans to bring in a new U.S. partner later.

Constellation announced last week that it would not move forward with the proposal over risks linked to the high cost of a $7.5 billion loan guarantee.

“We are writing to you because, given what is at stake, we feel an obligation to explore every reasonable avenue to keep the prospects of this proposal alive,” Piquemal wrote to Michael Wallace, Constellation’s chief operating officer.

EDF also is again presenting a proposal made last month to assume 100 percent of the risk in developing the third reactor until construction begins.

Constellation did not immediately comment on the letter.

Gov. Martin O’Malley, who supports moving ahead with the reactor, met with EDF officials at the governor’s residence in Annapolis on Tuesday. Shaun Adamec, O’Malley’s spokesman, also said the governor spoke on Tuesday with Carol Browner, director of the White House Office of Energy and Climate Change Policy.

“This is an invitation for Constellation to come back to the table, and we would encourage it,” Adamec said of EDF’s letter Wednesday.