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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

LI-to-CT Cross-Sound Cable Shut Down by DOE

LCG, May 7, 2004--The high-voltage line that stretches across the Long Island Sound, connecting New York with Connecticut, will cease transmitting power, following a Department of Energy decision that a previously issued emergency order allowing flows was no longer justified.

The underwater cable began operations under contentious circumstances, following the power blackout that affected millions last August. According to the Connecticut Attorney General Richard Blumenthal prior its activation, the underwater cable had not been buried sufficiently deeply beneath the bottom of the Sound, and posed a hazard to marine life. The 330-megawatt cable was put in place by Cross-Sound Cable Co. LLC.

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