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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

Ethanol Requirements are Sticking Point in Energy Legislaton

LCG, Oct. 20, 2003--A comprehensive national energy bill could be submitted for voting next week, but meanwhile, Republican House and Senate leaders are working to resolve differences that include questions on treatment of ethanol, the corn-based fuel.

A doubling in the share of ethanol as a percentage of overall fuel consumption is possible, although some legislators disagree on how much choice states should have on the amount of ethanol they might be required to purchase. Tax incentives of approximately $18 billion are a key part of the bill, which would promote new power plants, as well as research into fuels.

While Democrats have said that Republicans have generally not included them in negotiations, regional distinctions are clear on some issues among Republicans. Southern and Western representatives are less inclined go forth with de-centralizing large utilities. No consensus has emerged on where funds for upgrading strained transmission infrastructure should come from. If the bill is not completed by next week, negotiations may last through January of next year.
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