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NRC Accepts the Construction Permit Application for TVA's Small Modular Reactor Project

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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Red Oak Power Facility in PJM to be Acquired by Strategic Value Partners

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

LA City Council Votes to Approve Goal of 100% Carbon-free Energy by 2035

September 3, 2021--The Los Angeles City Council voted unanimously on Wednesday to direct the Los Angeles Department of Water and Power (LADWP) to prepare a Strategic Long Term Resource Plan that achieves 100 percent carbon-free energy by 2035. The target year of 2035 is ten years earlier than the prior target and aligns with the goals proposed by President Biden for the electric sector.

The approved motion also directs LADWP to report every six months on the transition to renewable energy to the City Council’s Energy, Climate Change, Environmental Justice and River Committee. In addition, the LADWP is ordered to develop a long-term hiring plan for nearly 10,000 “green” jobs.

LADWP, the largest municipal utility in the country, has been planning for carbon-free power, and the new motion will accelerate their efforts.

LADWP is actively working to develop a new power generating facility at the Intermountain Power Plant (IPP) in Delta, Utah, where the current coal-powered facility will be retired. The new combined-cycle facility will use advanced gas turbines fueled with a hydrogen-gas mix and, ultimately, 100 percent renewable hydrogen for power generation. The project includes the development of nearby salt caverns for underground storage of green hydrogen. The facility will be owned by the Intermountain Power Agency (IPA) and operated by LADWP.
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