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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

California Public Utilities Commission Extends Self-Generation Incentive

LCG, March 5, 2002-The one-megawatt limit previously assigned to those receiving Self Generation Incentive money from California has been expanded.

Petitioned by Kawasaki regarding its Gas Turbine, the California Public Utilities Commission broadened the size requirements for its Self Generation Incentive program, which doles out $125 million per year to commercial and industrial electricity users.

The Self Generation Incentive Program, effective March of last year, funds customers of PG&E, California Edison, San Diego Gas & Electric, and Southern California Gas Co. in order that they may install wind turbines, fuel cells, internal combustion engines, and other devices, in addition to funding the use of renewable fuel. Previously limited to customers with 1.0-megawatt projects, the program now includes those who use up to 1.5 megawatts.

While maximum size of eligible parties has been increased to 1.5 megawatts, the project incentive will still be scaled according to the first megawatt. Additionally, unused Self Generation Incentive annual funds will now carry over into the following year, and the Corporate Parent Cap Size has expanded to 1.5 megawatts per single project.

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