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News
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LCG, July 10, 2025--The U.S. Nuclear Regulatory Commission (NRC) accepted a construction permit application for review from the Tennessee Valley Authority (TVA) to build one of the nation’s first small modular reactors (SMR). TVA submitted its application in late May to use GE Vernova Hitachi’s BWRX-300 design and to install the advanced nuclear plant at its Clinch River site near Oak Ridge, Tennessee. TVA's application is the first in the U.S. that uses GE Vernova Hitachi’s BWRX-300 design.
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LCG, July 9, 2025--Strategic Value Partners, LLC (together with its affiliates, SVP) yesterday announced that its managed funds (the "SVP Funds") have agreed to acquire Red Oak Power, an 831-MW natural gas-fired combined-cycle power generation facility located in Sayreville, New Jersey.
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Industry News
Governor Issues Order to Increase New Jersey's Offshore Wind Goal to 7,500 MW
LCG, November 20, 2019--The Governor of New Jersey yesterday signed an executive order to increase the offshore wind capacity goal to 7,500 MW by 2035 in order reach an overall goal of 100 percent clean-energy by 2050.
The Governor had previously set a goal to install 3,500 MW of offshore wind capacity by 2030, along with an executive order directing the development of an updated Energy Master Plan (EMP) for the State to achieve a goal of 100 percent "clean energy" by 2050. The New Jersey Renewable Energy Standard includes a 50 percent renewable energy requirement by 2030.
The Governor stated yesterday, "That's more than double the output. That's more investment. That's more jobs. That's more clean energy. When we meet this goal, our offshore winds will generate enough electricity to power more than 3.2 million New Jersey homes. We will meet half of our electric power need. We will generate billions of dollars in investments in our state's future that will, in turn, generate thousands of union jobs."
In June, the New Jersey Board of Public Utilities (NJBPU) announced that it had selected Ørsted's Ocean Wind proposal for the State's first offshore wind project. The 1,100-MW Ocean Wind project is located 15 miles off the coast of Atlantic City. Subject to permitting and final investment decision, Ocean Wind is expected to be commissioned in 2024.
The Governor of New Jersey is not alone in using an executive order to drive investments in offshore wind and other renewable resources. The Governor of Virginia signed an executive order in September that sets forth Virginia's objectives for statewide production of electricity. The Virginia executive order calls for 30 percent of Virginia's electric system to be powered by renewable energy resources by 2030, and 100 percent of Virginia's electricity to be produced from carbon-free sources such as wind, solar and nuclear by 2050. The plan requires at least 3,000 MW of solar and onshore wind are under development by 2022, and that up to 2,500 MW of offshore wind are fully developed on an accelerated timeline by 2026.
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UPLAN-NPM
The Locational Marginal Price Model (LMP) Network Power Model
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UPLAN-ACE
Day Ahead and Real Time Market Simulation
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UPLAN-G
The Gas Procurement and Competitive Analysis System
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PLATO
Database of Plants, Loads, Assets, Transmission...
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