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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

EPA Not Given Authority in Permitting for TVA Plant Upgrades

LCG, May 3, 2004--An appeal by the Environmental Protection Agency (EPA) of a ruling made last year by the 11th U.S. Court of Appeals in Atlanta will not be heard by the Supreme Court, meaning that the ability of the EPA to regulate the Tennesse Valley Authority's maintenance of its power plants is still in doubt.

At issue is an attempt by the EPA in 1999 to require the TVA to install emission reduction equipment, as it required of other utilities that made equipment upgrades at power plants. The TVA, a government-sponsored utility, has argued that changes made at nine coal-fired power plants did not fall into the category of upgrades, only maintenance.

The 11th U.S. Court of Appeals ruled last year that although both the EPA and TVA are government agencies, TVA could lawfully dispute EPA's order in court. The Supreme Court indicated today that it would not hear an appeal filed by the U.S. Solicitor General's office for the EPA.
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