Utah Agency Defends $18B Nuke Plant Project

Law360, New York (February 29, 2012, 8:17 PM EST) -- A Utah agency on Tuesday denied an appeal to reassess water rights awarded to a proposed $18 billion nuclear power plant, despite a backlash after one of its potential backers came under fire from the U.S. Securities and Exchange Commission.

A state engineer with Utah's Division of Water Rights rejected the appeal, filed by environmental watchdogs, saying he believes power company Blue Castle Holdings Inc. will still be able to fund the project after losing one of its proposed backers. Private equity firm Leaddog Capital LP,...
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