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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

EdF Eyes Britain's Largest Transmission Net

LCG, Nov. 5, 2001--Electricit de France is considering the purchase of East Anglian Electricity, Britain's biggest regional power distribution network, in a deal that could bring its owner, TXU Corp. of the U.S., between 1.3 billion ($1.9 billion U.S.) and 1.5 billion ($2.2 billion), the Financial Times reported Saturday.

TXU has said it wants to concentrate on its UK electricity retailing interests as well as investing to expand in continental Europe.

The paper noted that EdF already owns jointly with TXU a company that manages the local transmission networks of eastern England and neighboring London Electricity, which it bought for 1.9 billion ($2.78 billion) in 1998.

"EdF, which sells power and gas to (3 million) UK electricity customers, mostly in London and south west England, is a natural candidate to buy the (55,300-mile) long network," the Financial Times said.

EdF's expansion outside of France has been roundly criticized by British, Spanish and German authorities who complain that the French government-run company has been dragging its feet on opening its own territory to foreign investment.

In addition to London Electricity, EdF owns Sweb (South West Electricity Board), which it bought in 1999, and two large English power stations at Sutton Bridge in Lincolnshire and Cottam, Nottinghamshire, which it acquired last year for about 800 million ($1.15 billion).

Any move by EdF to acquire East Anglian would come under investigation by the European Commission, which is currently investigating moves by Spanish and Italian authorities restricting foreign state-owned companies from buying into domestic energy companies.

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