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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

FPL Begins Construction on Solar Project

LCG, February 27, 2009--Florida Power & Light Company (FPL) yesterday announced the groundbreaking for its DeSoto Next Generation Solar Energy Center, which will provide 25 MW of solar photovoltaic (PV) power to FPL's customers in Florida. The company states that the project will be the largest solar PV facility in the nation when it is complete at the end of 2009.

The DeSoto Next Generation Solar Energy Center will utilize 180 acres of land in DeSoto County, Florida. The facility will include 90,000 Sunpower PV panels with the SunPower® Tracker technology, which provides for the panels to follow the sun throughout the day and increase the solar energy converted to power.

FPL is now pursuing three solar projects in Florida, all of which were approved by the Florida Public Service Commission last July. In addition to the DeSoto Next Generation Solar Energy Center, a 10-MW, PV project that uses the Sunpower panels and SunPower® Tracker technology will be constructed at the Kennedy Space Center.

FPL's third solar project is the Martin Next Generation Solar Energy Center, which will be built at FPL's existing Martin Plant site, which includes natural gas-fired, combined cycle electric generating facilities. The project incorporates a design that will, when solar power is available, use energy from the sun to generate steam as a substitute for burning natural gas in a combined-cycle steam turbine system. The solar project will include approximately 180,000 mirrors spread over 500 acres. The project will provide for as much as 75 MW of solar power and is expected to be the first such hybrid system in the world.
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