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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

ABB Wins Transmission Contracts in Brazil

LCG, June 15, 2001ABB, the Swiss-Swedish global energy service company, said yesterday it has been awarded contracts worth about $300 million to build transmission systems with a combined length of around 800 miles in Brazil.

The order stems from a concession agreement granted by Brazil's Federal National Electric EnergyAgency to a consortium of power developers. The concession gives the developer consortium the right to build, own and operate two power lines northern and northeastern Brazil to increase the transmission capacity of the national power grid.

"Upgrading and extending the network will significantly improve Brazil's power reliability," saidRichard Siudek, executive vice president and head of ABB's Utilities division. "We will use ourexperience with interconnections in Brazil to rapidly implement this important project."

ABB said it will design, procure and construct all transmission line components, including six 500 kilovolt substations and reactive power compensation equipment. Many of the projects' components will be manufactured at ABB plants in Sao Paulo and Minas Gerais, the company added.

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