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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

Dominion Reaches Agreement on Emissions Plan for Salem Power Station

LCG, May 27, 2005--Dominion, one of the largest energy companies in the nation, announced that it has signed a consent order with the Commonwealth of Massachusetts and other stakeholders for a plan to reduce emissions at the Salem Power Station that will result in the station meeting State emission regulations.

The plan includes commitments from Dominion to keep the 745-MW plant, which is equipped to burn coal and oil, operating through at least September 30, 2008. The plant is a key source of jobs and tax revenues for the community. Dominion purchased the plant on January 1, 2005 from the bankrupt from USGen, which had threatened to close the plant to avoid the costs of installing emission control equipment.

One element of the plan is to change the quality of coal in order to reduce sulfur dioxide (SO2), nitrogen oxides (NOx), and mercury emissions from the station. Modifications to enable the fuel handling system to use low-emissions coal will also be required.

ISO New England had determined the plant is needed for grid reliability purposes and had moved to block the closure of the station. The new agreement regarding how the emissions will be reduced and how costs will be allocated was filed Wednesday with the Federal Energy Regulatory Commission, which must approve the pact.

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