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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

Emergency Plan for NY Underwater Cable Sought

LCG, Apr. 21, 2003--An underwater cable that has not been approved as a power transmission link between Connecticut and New York's Long Island needs to be available in case of soaring demand, Sen. Charles Schumer, D-N.Y., has told the U.S. Department of Energy.

The line is in place, but its use has been blocked by a Superior Court judge in Connecticut, due to the fact that in seven locations, the line is not buried sufficiently deeply beneath the floor of the Long Island Sound to receive a permit from the Connecticut Department of Environmental Protection. The line's owner, Cross-Sound Cable Co., said it would bury the line while a modified permit was issued, but the the judge denied the modification.

Schumer and others considering the public Long Island Power Association's supply of power believe the risk to New York and Connecticut in case of high demand is too great not to allow the 330-megawatt cable to be considered for use as part of a backup plan. LIPA's chairman, Richard Kessel, said that "At a time when there is a temendous concern about terrorism, we need to make sure that the electrical system is reliable and there is a backup and redundancy." The cable runs between New Haven and the former site of the Shoreham nuclear power plant on Long Island. Although it was approved by the Department of Energy in case of emergency last summer, it did not operate.
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