NRC Issues Early Site Permit to Tennessee Valley Authority for SMRs at Clinch River Site

LCG, December 27, 2019--The Nuclear Regulatory Commission (NRC) announced on December 17 that the Commission has authorized the issuance of an Early Site Permit (ESP) for Tennessee Valley Authority's (TVA's) Clinch River site near Oak Ridge, Tennessee. The ESP closes several site-related issues, including many environmental impacts, for small modular reactors (SMRs) at the site. The ESP is the first issued by the NRC for SMRs and will be valid for up to 20 years from date of issuance.

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NRC Issues Subsequent License Renewals for First Time to Nuclear Reactors in Florida

LCG, December 11, 2019--The Nuclear Regulatory Commission (NRC) staff recently approved Florida Power & Light's (FPL's) application for an additional 20 years of operation for Turkey Point Nuclear Generating Units 3 and 4. This is the first time the NRC has issued renewed licenses authorizing reactor operation from 60 to 80 years. The subsequent (or second) license renewals (SLRs) for Turkey Point Unit 3 and Unit 4 now expire on July 19, 2052 and April 10, 2053, respectively.

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Industry News

British Offshore Wind Project Announces Funding Agreement

LCG, June 8, 2012--Centrica Plc (CNA), Dong Energy A/S and Siemens AG (SIE) announced that they have completed a $660 million funding agreement for the 270-MW, Lincs off-shore wind project. The funding agreement is stated to be the first time banks have provided project finance to an off-shore, U.K. wind project that is under construction.

The banks providing non-recourse financing for the Lincs project include BNP Paribas SA, UniCredit SpA (UCG), HSBC Holdings Plc (HSBA), Nordea Bank AB (NDA), Lloyds TSB Bank Plc and Bank of Tokyo-Mitsubishi UFJ Ltd.

Centrica owns 50 percent of the project. Dong, a Danish utility, and Siemens Project Ventures GmbH each own 25 percent of the project. The total project cost is approximately $1,550 million, including about $390 million for the transmission link from the project to the shore.

Centrica is expected to receive 75 percent of the electricity generated and 50 percent of its Renewable Obligation Certificates, or ROCs, and Dong is expected to receive the remaining power output and 25 percent of the ROCs. The remaining 25 percent of ROCs will be sold to the market by the Lincs project company, Lincs Wind Farm Ltd.

The project is located about five miles off the east coast of England in the North Sea and is scheduled to commence commercial operations in the first half of 2013. The project includes 75 Siemens 3.6-MW turbines, which will be installed in approximately 32-50 feet of water. In April Centrica announced that 51 of the 75 foundations were complete. According to Centrica, the wind farm has a designed operational life of 20 years, after which the turbines can be decommissioned or new turbines installed for the rest of the 50-year lease.

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