A deal has been reached to sell the Indian Point Energy Center.

On Tuesday, Holtec announced that Entergy Corp. has agreed to sell the subsidiaries they own, Indian Point Units 1, 2, and 3, located in Buchanan, to a Holtec International subsidiary for decommissioning.

The sale, which will be effective after Unit 3 has been shut down and permanently defueled, includes the transfer of the licenses, spent fuel, decommissioning liabilities, and Nuclear Decommissioning Trusts for the three units.

“The sale of Indian Point to Holtec is expected to result in the completion of decommissioning decades sooner than if the site were to remain under Entergy’s ownership,” Entergy Chairman and Chief Executive Officer Leo Denault said. “With its deep experience and technological innovations, Holtec’s ability to decommission Indian Point will benefit stakeholders in the surrounding community.”

With this agreement to sell Indian Point, Entergy has now announced the sale of its entire remaining merchant nuclear fleet for decommissioning, according to a press release.

Following regulatory approvals and transaction close, Holtec plans to initiate decommissioning at Indian Point decades sooner than if Entergy continued to own the units, Holtec officials say.

A more defined timetable will be developed in connection with Holtec’s preparation of its Post-Shutdown Decommissioning Activities Report and Site-Specific Decommissioning Cost Estimate.

Holtec will submit those reports to the U.S. Nuclear Regulatory Commission, likely in the fourth quarter of 2019. The transaction closing is targeted for the third quarter of 2021.

The transaction is subject to closing conditions, including approval from the NRC. The companies also plan to seek an order from the New York State Public Service Commission disclaiming jurisdiction, or alternatively, approving the transaction. Closing is also conditioned on obtaining from the NYS Department of Environmental Conservation an agreement confirming Holtec’s decommissioning plans as being consistent with applicable standards.

“Holtec will work with Entergy to hire existing employees at Indian Point who can be productively deployed in the forthcoming decommissioning activities. Holtec looks forward to sharing the Company’s vision for a supremely safe and minimal-dose decommissioning with site employees, the local community, and other stakeholders over the coming months and years," Dr. Kris Singh, President & CEO of Holtec International said.