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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

New England Experiences Heavy Outages

LCG, Nov, 18, 2002--Much of northwestern Connecticut and other parts of New England were without power this morning, following damage to power lines caused by a powerful nor'easter yesterday.

The number of people affected reached as high as 130,000, before dropping to an estimated 58,000 still without power this morning. Representatives for Connecticut Light & Power projected that it would be Wednesday before some residents in remote areas would have power restored.

The storm became more and more damaging as it began in the Carolinas as a rainstorm, before producing snow and ice on its way north through New England. Trees unable to carry the weight of ice and snow brought down transmission lines with them.

Long Island experienced heavy damage, with New York residents experiencing power outages still numbering about 26,000 this morning. Seven inches of snow fell in the Catskill and Adirondack mountains.

In Maine, where snow was already falling on Sunday morning, crews are making slow progress restoring power as those without heat depend on warmth in emergency shelters. "There are a lot of small problems scattered about so it tends to be very labor-intensive and slow-going," said Central Maine Power's Gail Rice, speaking with the AP.
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