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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

San Jose Merchant Plant Recommended by California Panel

LCG, Oct. 12, 2000A siting committee of the California energy Commission has recommended approval of the Metcalf Energy Center power plant that Calpine Corp. and Bechtel Enterprises Inc. want to build in an industrial section of San Jose.

The panel voiced misgivings about the project, chiefly because of its proximity to residential areas, but concluded that its benefits "would be substantial." The approval was granted because the plant "would enhance the reliability of an imperiled electric system."

The plant will, if it gains final approval from the Energy Commission and the City of San Jose, be built on a 20 acre site in an area that has, because of low land values, been developed for low cost housing.

Because of its proximity to residential areas, San Jose Mayor Ron Gonzales and others have opposed construction of the plant.

San Jose bills itself as the "Capital of Silicon Valley." Recent estimates place the growth of electricity demand in Silicon Valley at 10 megawatts per day. That means Silicon Valley will need a new power plant the size of the Metcalf Energy Center every two months.

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