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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

LADWP Proceeds with Pine Tree Wind Project

LCG, November 18, 2005--The Los Angeles Department of Water and Power (LADWP) Board approved a deal earlier this week to acquire the Pine Tree Wind Project located in Kern County, California. The Pine Tree Wind Project, with an electric generating capacity of 120 MW, will be the largest wind farm owned by a municipality in the country.

The Board approved a $239 million deal with Wind Turbine Prometheus, as well as an environmental monitoring agreement with Kern County. According to LADWP, the project will be constructed by a partnership including the City of Los Angeles, LADWP, the Imperial Irrigation District and Citizens Energy.

The project will consist of 80, 1.5-MW wind turbines and will be located about 12 miles north of Mojave, California. The current project schedule is to commence operations in 2007.

The Pine Tree Wind Project is an important step by LADWP to expand its renewable energy supplies, as it will nearly double the wind energy in the city's portfolio. LADWP began developing a Renewable Portfolio Standard (RPS) last year to increase its share of power generation through renewable energy sources -- such as solar, wind, geothermal and biomass -- to 13% of its energy by 2010 and 20% by 2017.

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