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Holtec Signs Strategic Cooperation Agreement with Utah and Hi Tech Solutions to Deploy Nuclear SMRs

LCG, May 1, 2025--Holtec International (Holtec) announced the signing on April 29 of a strategic cooperation agreement with the State of Utah and Hi Tech Solutions, a leading nuclear services provider based in Kennewick, Washington, to collaborate in the deployment of Holtec's SMR-300s (small modular reactor) in Utah and the broader Mountain West region. Hi Tech will play a leading role in the project development and workforce training to support the rise of new nuclear power generation in the region.

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EPA and Texas Railroad Commission Sign Memorandum of Agreement for Permitting Geologic Storage of Carbon Dioxide

LCG, April 29, 2025--Officials from the U.S. Environmental Protection Agency (EPA) and Texas Railroad Commission (RRC) signed a memorandum of agreement (MOA) today outlining the state’s plans to administer programs related to carbon storage wells, known as Class VI wells. The MOA signing is a required step in the RRC’s application to be granted authority to permit Class VI wells in the state of Texas. EPA is currently preparing a proposed approval of RRC’s primacy application.

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Industry News

TVA's Leasing Deal Seen As Avoiding Debt Cap

LCG, Jan. 30, 2002--The budget proposal to be released next week by President Bush, the Tennessee Valley Authority will show $300 million more in liabilities than the agency believes it has.

According to the Wall Street Journal, new attention to strict accounting standards caused the Office of Management and Budget to classify the TVA's leasing deal for a natural gas plant as a debt. TVA owned the plant until it arranged with a unit of Pittsburgh-based PNC Financial Services Group Inc. to receive a one-time payment for the plant, which was under construction, and then lease the plant in order to cover outstanding construction costs.

The TVA is allowed to borrow up to $30 billion, but having outstanding debt on the plant would have put its debt above $25.4 billion. Its management would like to be able to expand its generating assets. By taking the gas-fired peaking plant off its list of assets, it avoids fluctuations in the plant's market value, and as chief financial officer David Smith says, it is able to "build flexibility into our portfolio."

The OMB has insisted that the arrangement be recognized as a long-term obligation, not a normal operating expense.

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