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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

Nuclear Agency Says Accidents Unlikely to Rupture Yucca Casks

LCG, May 13, 2004--The Nuclear Regulatory Commission has established a plan for testing casks that would be used to transport and store nuclear waste at Nevada's Yucca Mountain, according to a memo described by the Las Vegas Review-Journal.

The tests will include having casks of various designs put onto a 150-ton shipping container, which would be subjected to a crash at 75 mph. Casks will also be exposed to "fully engulfing" fire.

The NRC will not intentionally cause the casks in the tests to undergo sufficient damage leading to failure, based on its conclusions that casks could not realistically fail in scenarios it has anticipated could occur.

Nevada officials have said that more extensive tests would be needed to establish the safety of the casks, including stress testing.
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