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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

AES to Restart Two Retired Southern Cal Units

LCG, May 15, 2001AES Corp. said yesterday that its Huntington Beach, Calif. plant had received the green light from the California Energy Commission to begin rebuilding two retired natural gas-fired electric generation units that will add 450 megawatts of new power in California.

The two units, built shortly after World War II, were retired in 1995 by Southern California Edison Co. the former owner of the Huntington Beach plant. The reconstruction will upgrade and improve the reliability of old boilers, replace obsolete controls, and install "state-of-the-art" emissions controls, AES said.

Ed Blackford, president and site manager of AES Huntington Beach, said "Not only will these unitsbe on line in time to address California's urgent need for electricity this summer, but the state-of-the-art modifications will make this plant one of the cleanest gas-fired plants in California."

Mark Woodruff, president of AES Southland, added "Not only will this project bring more clean electricity to California, it will also help lower electricity prices."

AES is one of the "biggest snakes on the planet earth" accused by California Gov. Gray Davis of price gouging.

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