Industry

In a bid to generate up to $900 million in additional funding for nuclear energy projects, Constellation Energy announced this week that it will issue corporate green bonds in the United States.

The newest edition of the Nuclear News Buyers Guide will be out soon, marking the 55th year of the most comprehensive goods and services publication in the nuclear industry. The American Nuclear Society invites all companies that perform or seek nuclear-related work to participate by identifying areas of expertise and providing contact information.

Ken Petersen
president@ans.org

There have been significant changes in the outlook for the existing U.S. nuclear fleet in the last few years. In 2021, we were looking at the early closure of units and could not even think of license extension. Since then, the combination of the U.S. government recognizing the clean-air benefits of nuclear and the impact of the war in Ukraine has resulted in a lot of positive activity on Capitol Hill for nuclear.

Several pieces of legislation have been passed in support of nuclear as law- and policymakers have recognized the important role nuclear power can play in achieving the nation’s clean-air goals. New legislation also is supporting reducing reliance on Russia for uranium enrichment by supporting the domestic production of high-assay low-enriched uranium (HALEU).

The Civil Nuclear Credit (CNC) Program, which was part of the 2021 Infrastructure Investment and Jobs Act, included $6 billion to prevent premature retirement of existing zero-carbon nuclear plants. On January 17, the Department of Energy awarded Diablo Canyon $1.1 billion from the CNC Program to support continued operations of the plant.

Great Britain announced last week that it will purchase land at two nuclear sites from Hitachi for £160 million ($203 million).

Chancellor Jeremy Hunt announced the deal for the sites—Wylfa in northern Wales and Oldbury-on-Severn in southwestern England—during the annual budget speech to Parliament. Under Hitachi’s ownership, the land was prepped for developing a pair of advanced boiling water reactor units, but those plans were suspended in 2019 due to economic constraints.

The continent of Africa and the 54 countries that share the land are an emerging force that will hold growing influence in the world’s economy by the end of this century. Throughout history, the world’s leading economies have been driven by large working-age populations, but the shift in demographics over the next 50 years will bring drastic changes to the global economy. As reported last year by the New York Times, most of the youngest countries in the world are in Africa (south/southeastern Asia and the Middle East being the other regions with young populations). This means that by 2050 and beyond, the countries with the largest working-age populations will be very different from the top economies today. The African Union understands these changes are coming and is working toward its Agenda 2063, the “master plan for transforming Africa into a global powerhouse of the future.”

Vistra this week completed its acquisition of Energy Harbor Corp., a move the company announced almost exactly a year ago with a $3.43 billion price tag.

Talen Energy announced its sale of a 960-megawatt data center campus to cloud service provider Amazon Web Services (AWS), a subsidiary of Amazon, for $650 million.

Cadre Holdings, Inc. has announced that it has entered into a definitive agreement to acquire Alpha Safety Intermediate, LLC, the operating parent of Alpha Safety, a nuclear safety solutions company, for $106.5 million (excluding working capital and certain other adjustments on closing).

Angwin

Chemist, author, nuclear energy advocate, and ANS member Meredith Angwin recently reached out to David Blackmon about Juice: Power, Politics and the Grid, a series of five short videos that she calls “a splendid resource for people who want to know about the electric grid.” Blackmon, a writer and 40-year veteran of the energy industry who is a fan of both Angwin and the video shorts, reposted her review on his Substack, “Energy Transition Absurdities.”

The videos, produced by Austin, Texas–based filmmakers Robert Bryce and Tyson Culver, feature interviews with Angwin and others as they “expose the perils facing our electric grid [and show] how we can improve the reliability of our most important energy network and address climate change by embracing nuclear energy.”

Here is a recap of industry happenings from the recent past:

ADVANCED REACTOR MARKETPLACE

UAE prepares for advanced nuclear

Emirates Nuclear Energy Corporation (ENEC), the United Arab Emirates’ nuclear energy development organization, has signed several agreements regarding advanced reactors, many of which were signed at the 2023 United Nations Climate Change Conference (COP28) in Dubai, UAE.

Hundreds of employees at the Westinghouse nuclear fuel fabrication facility in South Carolina are trying to form a union and join the International Brotherhood of Electrical Workers.

Duke Energy has confirmed “limited” layoffs across its territories as part of a company reorganization focused on clean energy.

In a statement, the company said, “Duke Energy is entering the next phase of its clean energy transition, which calls for a transformative expansion and modernization of our clean energy grid. . . . . We are reorganizing for greater efficiency and cost effectiveness.”

Patrick O'Brien

The adage “a rising tide raises all boats” keeps coming to my mind whenever I think about the work ahead for small modular reactor and advanced reactor development companies. The groundwork being laid by the entire industry is key to moving the whole group forward together. The drive to construct new nuclear will need to include all sizes, designs, and companies, because unlike in many industries, there is no way there can only be one “winner” if we are to meet climate goals.

Recently, at global climate summit COP28, a large portion of the international community announced a joint aim to triple worldwide nuclear power generation by 2050. This is tremendous news and a huge step in the right direction for many reactor developers. It means that the work developers are doing now will lead to a market for their product for years to come. The questions we must all be asking are “How do we get there?” “Who is going to take the leap of faith to build the first-of-a-kind designs?” and “What challenges lie ahead?”

The National Nuclear Security Administration has issued the fiscal year 2023 results of the performance of its managing and operating (M&O) partners in meeting the agency’s expectations.

Two Canadian energy companies are teaming up to bring small modular reactors to Alberta.

Capital Power Corporation and Ontario Power Generation announced this week that they will spend the next two years exploring joint opportunities to bring SMRs to the province. Just under 13 percent of Canada’s power comes from its 19 nuclear reactors.

A coalition of energy and grid industry associations led by the National Electrical Manufacturers Association (NEMA) today requested $1.2 billion in repurposed supplemental funding in upcoming negotiations on the Senate Energy and Water Development Appropriations Bill for Distribution Transformer and Grid Components.

Here is a recap of industry happenings from the recent past:

ADVANCED REACTOR MARKETPLACE

DOE, DOD support X-energy’s microreactor work

The Department of Energy’s Office of Nuclear Energy has signed a one-year cooperative agreement with X-energy designed to advance the development of a design for a transportable mobile microreactor. Under the agreement, the DOE will support X-energy’s work on the architecture and technology for the 3- to-5-MWe microreactor’s preliminary design. X-energy is also the recipient of a Department of Defense contract to develop an enhanced engineering design for a transportable microreactor that will be suitable for both defense and commercial applications.

Powering our Economy and the World with Clean Energy—Our Path Forward to 2035 is a new document released by the province of New Brunswick, Canada, that “outlines a 12-year energy road map and supporting strategies for how the energy landscape will transition in New Brunswick and how we will achieve our energy reliability, sustainability, and affordability goals.”

A message at the beginning of the document—signed by the New Brunswick premier Blaine Higgs and minister of natural resources and energy development Mike Holland—notes the importance of engaging New Brunswickers on the province’s energy future. “We will be forming an energy transition working group” to gather input from provincial stakeholders, the letter states.

Here is a recap of industry happenings over the past month:

ADVANCED REACTOR MARKETPLACE

SMR power barge designs approved

The American Bureau of Shipping has approved in principle the designs for an offshore small modular reactor power barge from Korea Shipbuilding and Offshore Engineering and Kepco Engineering and Construction. Another collaborator on the project is the Liberian International Ship and Corporate Registry, which assisted ABS in design reviews. The SMR barges are designed to provide electricity for islands and other remote communities.