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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

LIPA's Ten-Year Plan Calls for Additional 1,000 MW

LCG, May 26, 2004--In order to meet demand that is growing at "an unprecedented pace," the Long Island Power Authority will move ahead with proposals for generating capacity and demand reduction, to enable it to secure 1,000 megawatts' worth of additional supply during the next ten years.

The generation to be built will come in part if not entirely from a set of four RFP's that were issued in 2003 and 2004. While LIPA's transmission and distribution system allow it to serve approximately 1.1 million customers, demand is growing at approximately 100 megawatts per year, according to Richard Kessel, LIPA's chairman.

The utility, which is owned by New York State, is now considering the recommendations of its Selection Commitee, including two proposals for a wind farm that could provide up to a maximum of 140 MW. It also is considering 12 proposals that aim to reduce power requirements through increased efficiency, and 15 proposals, from which the Selection Committee identified a pair of combined-cycle projects.
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