The James A. FitzPatrick Nuclear Power Plant in Scriba, Oswego County, is under new ownership.
Exelon has officially acquired the plant after completing a $110 million transaction with Entergy, FitzPatrick's former operator. Both companies announced Friday that the sale has been finalized.
"We look forward to bringing FitzPatrick's highly skilled team of professionals into the Exelon Generation nuclear program, and to continue delivering to New York the environmental, economic and grid reliability benefits of this important energy asset," Exelon President and CEO Chris Crane said.
With the sale's completion, Exelon has named Joseph Pacher as FitzPatrick's new site vice president. Pacher, who held the same position at R.E. Ginna Nuclear Power Plant in Wayne County, will oversee operations at the facility.
Pacher succeeds Brian Sullivan, FitzPatrick's former site vice president who was retained by Entergy.
Exelon's acquisition ensures that FitzPatrick will remain operational and continue to employ approximately 600 people.
The plant's outlook wasn't as positive nearly two years ago. After months of speculation in 2015, Entergy announced plans to close the plant. The company scheduled January 2017 as the closing date for the facility.
As Entergy advanced its plan to close the plant, negotiations with federal, state and local officials continued. The state Public Service Commission then adopted the Clean Energy Standard, which would support New York's nuclear power plants with up to $8 billion in subsidies paid for by utility ratepayers.
Following the Public Service Commission's action, Exelon announced its intent in August 2016 to acquire FitzPatrick from Entergy for $110 million.
The plant's sale was approved by state regulators in November. Two federal agencies — the Federal Energy Regulatory Commission and the Nuclear Regulatory Commission — also signed off on the transaction.
U.S. Rep. John Katko, who was involved in discussions about the future of FitzPatrick, said he's thrilled the sale of the plant to Exelon has been completed.
"Throughout this process, I've worked with the companies, local and state leaders and the hardworking men and women employed at FitzPatrick to ensure a smooth transition," Katko, R-Camillus, said. "The nuclear industry remains a critical economic driver here in central New York, and I will continue to be a steadfast champion for this clean, dependable source of power."