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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

Rhode Island Offshore Block Island Wind Project Clears Department of Interior

LCG, November 19, 2008-The Bureau of Ocean Energy Management (BOEM) of the Department of the Interior has granted a right-of-way for the undersea transmission line that will deliver the wind-generated electricity from Deepwater Wind's 30-MW Block Island offshore project to the Rhode Island mainland.

The right-of-way extends eight nautical miles and is 200 feet wide. It is the first ever granted in federal waters for a transmission line carrying offshore wind. Last week the Rhode Island Coastal Resources Management Council unanimously authorized a submerged land lease and licenses for the part of the underground transmission that traverses state waters.

The Block Island Wind Farm will be located approximately three miles southeast of Block Island and will consist of five, 6-MW wind turbines. Power will be exported to the mainland electric grid via the bi-directional Block Island Transmission System, a submarine cable planned to make landfall at Scarborough State Beach in Narragansett, Rhode Island. From the beach area, the cable will remain buried, beneath state roads, and eventually connect with National Grid's existing electric substation in Wakefield.

National Grid will build, own and operate the 34.5kV cable, including a new substation and switchyard. A Power Purchase Agreement (PPA) has been executed with Narrangansett Electric.

Construction is expected to begin in spring 2015, with commercial operation to be achieved in 2016.
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