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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

Calpine's Pastoria Energy Center On-Line

LCG, May 6, 2005--Calpine Corporation announced yesterday that its Pastoria Energy Center, located south of Bakersfield, California, has commenced its Phase I operations, providing 250 MW of electric generating capacity to Southern California. Phase II is scheduled for completion next month and will provide another 500 MW of capacity to California's transmission grid.

Consistent with Calpine's facility development strategy, the Pastoria Energy Station is an energy efficient, gas-fired, combined cycle facility with relatively limited air emissions, including greenhouse gases. Calpine's Metcalf Energy Center, located in San Jose, California, is also schedule to begin operations next month. Similar to the Pastoria Energy Station, the Metcalf Energy Center is a 600 MW, combined-cycle power plant. Calpine will provide a welcome boost to meet California's growing demand for electricity. With the completion of both projects, Calpine's California assets will total over 5,250 MW.

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