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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

Hanford Clean-Up Analysis Timetable Shortened

LCG, July 14, 2003--An agreement between Washington State's Department of Ecology and the Department of Energy includes a change to the deadline for completing analysis of alternative clean-up methods at the Hanford nuclear power plant, cutting nine years off the originally planned duration.

Currently, vitrification is the leading technology for containing 54 million gallons of radioactive and other wastes, and would seal the waste in glass. The analysis to be undertaken would consider other methods to vitrification, which would be performed at a plant estimated to cost $5.7 billion. Without the agreement just reached, these studies would have lasted until 2014, but will now be completed by 2005.

The change has been tentatively approved by the Environmental Protection Agency. Changes to the proposed treatment plant's design would mean wastes at different level of radioactivity would be vitrified by separate melters. The plan also moves up the final date for containing the waste to 2028, from 2046. So far, at least 1 million gallons of waste has seeped into the soil from drums that were not designed to hold the waste beyond the passage of two decades.
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