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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

Consumers Joins Midwest Nuke Operator Firm

LCG, Nov. 10, 2000--Consumers Energy Co. said yesterday it has signed an agreement to become a full partner in Nuclear Management Company of Hudson, Wisc., and transfer responsibility for the operation of its Palisades nuclear plant located near South Haven, Mich., to the partnership.

NMC was formed by four upper Midwest utilities in February of last year to operate seven nuclear units at five plant sites in Wisconsin, Minnesota and Iowa. With Consumers Energy as a partner, NMC will have responsibility for operating eight units with 4,500 megawatts of generating capacity.

" Palisades is joining a group of plants with excellent records for safety, reliability and cost-effective production," said David W. Joos, Consumers president and chief executive for electric. "It is a vote of confidence for our employees that Palisades has been invited to be a part of this outstanding nuclear organization."

Consumers said current Palisades employees will continue to operate and maintain the plant under the direction of NMC. Consumers will retain ownership of the plant, its 789-megawatt output and the spent fuel stored on site. The utility also will retain the financial obligations for the safe operation,maintenance and decommissioning of the plant.

NMC was originally formed by Northern States Power Co., Alliant Energy, Wisconsin Electric Power Co., and Wisconsin Public Service Co. to operate and manage the nuclear generating plants owned by the four utilities.

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