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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

NRC Renews Operating Licenses for Dominion's Millstone Units

LCG, November 29, 2005--The Nuclear Regulatory Commission (NRC) renewed the operating licenses for Dominion's Units 2 and 3 at the Millstone Power Station in Connecticut. The renewal adds 20 years to the operating licenses, extending the lives of Units 2 and 3 to July 31, 2035, and November 25, 2045, respectively. Unit 1, which, commenced commercial operations in 1970 and ceased operations in 1998, is in the process of being decommissioned.

The NRC conducted a review process, which included safety and environmental issues, that spanned nearly two years.

The combined electric generating capacity of the two units is approximately 2,020 MW, which is sufficient to provide for nearly half of of Connecticut's electricity needs. Dominion acquired Millstone in 2001.

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