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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

SunEdison Closes on 300-MW Wind Farm in Texas

LCG, August 6, 2015-SunEdison, Inc. yesterday announced that it has closed financing and commenced construction on the 300-MW South Plains II wind farm in Texas. Citi provided the construction loan facilities for the project and BHE Renewables, a subsidiary of Berkshire Hathaway Energy, in partnership with Citi, will invest in the tax equity. Hewlett-Packard plans to purchase 112 MW of the capacity to power 100 percent of its Texas-based data centers as part of the company's sustainable cloud initiative. An affiliate of Citi will purchase the remaining 188 MW capacity.

The South Plains II project, located in Floyd County, will use wind turbines supplied by Vestas. The project is scheduled to be completed in 2016. Operation and maintenance will be performed by SunEdison Services. Upon completion, TerraForm Power anticipates acquiring the project, which is forecast to generate approximately 1,200 gigawatt-hours of energy each year.

The president of BHE Wind, a division of BHE Renewables, stated, "Our company has been a leader in wind project development and ownership. As we look for new ways to be involved in developing renewable generation, we see tremendous opportunity to move the industry forward through investment in the tax equity market."
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