Constellation offers first-ever corporate green bonds
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.
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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.
Here is a recap of industry happenings from the recent past:
PPPL awards contract for fusion development
The Department of Energy’s Princeton Plasma Physics Laboratory has awarded an engineering support services contract for the development of fusion energy to a consortium of business partners led by AtkinsRéalis that includes Jacobs Technology and Longenecker and Associates. The contract has a base period of three years with two optional years and a ceiling value of $50 million. Services to be provided under the agreement include design of future upgrades for the National Spherical Torus Experiment–Upgrade (NSTX-U, the main fusion experiment at PPPL); design and fabrication of plasma diagnostic and heating subsystems for ITER (the international fusion facility being constructed in France); conceptual design of electricity-generating fusion plants; and development of physics and technology advances for improving the economics of fusion plants. Another partner that will support this contract is the United Kingdom Atomic Energy Authority, for which AtkinsRéalis has been working on stage 1 of the Spherical Tokamak for Energy Production (STEP) program.

X-energy has opened a regional operations and training center aimed at supporting future deployment of its advanced modular nuclear reactor fleet and the operators who will run it.

Staff and researchers at Penn State’s Radiation Science and Engineering Center (RSEC) will work this year to install a small angle neutron scattering (SANS) device and become the first and only U.S. university research reactor to host SANS capability. The $9.8 million device, donated by Helmholtz Zentrum Berlin (HZB) in Germany, will help researchers determine the structure of organic materials such as polymers, complex fluids, and biomolecules.

The owners of the Diablo Canyon nuclear power plant plan to dredge a massive buildup of shoaled sediment from its seawater intake cove.
Pacific Gas and Electric spokesperson Suzanne Hosn said, “The dredging project in the Diablo Canyon marina will remove approximately 70,000 cubic yards of sediment to prevent circumstances that could impact the power plant’s cooling system. Dredging will take place for the first time since operations began because of a rapid increase in sediment.”

Lightbridge Corporation announced today that it has reached “a critical milestone” in the development of its extruded solid fuel technology. Coupon samples using an alloy of zirconium and depleted uranium—not the high-assay low-enriched uranium (HALEU) that Lightbridge plans to use to manufacture its fuel for the commercial market—were extruded at Idaho National Laboratory’s Materials and Fuels Complex.

The Manhattan Project may have begun more than 80 years ago, but it’s still in the news—and not just because of Oppenheimer’s recent haul at the Academy Awards. On March 7, the Senate passed S. 3853, the Radiation Exposure Compensation Reauthorization Act, by a vote of 69 to 30, sending the bill to the House. It’s Sen. Josh Hawley's (R., Mo.) second attempt to reauthorize the Radiation Exposure Compensation Act (RECA)—which was first enacted in 1990 to address the legacy of U.S. nuclear weapons production—before it expires in June. The bill would extend the deadline to claim compensation by five years and expand it from the dozen states now covered to include individuals exposed to radiation in certain regions of Missouri, Alaska, Kentucky, and Tennessee.
Contracts valued up to a combined $1 billion have been awarded by the National Nuclear Security Administration’s Office of Nuclear Smuggling Detection and Deterrence to SeaTech Global Security Solutions of Richland, Wash., and Parsons Government Services International Inc. of Pasadena, Calif.

China is on pace to add as many as 10 reactors a year and may surpass the United States’ total nuclear capacity by 2030.
As part of this growth, construction is wrapping up this month on the world’s first onshore commercial modular pressurized water reactor—Linglong One, which is located in the Hainan province. That’s according to China Metallurgical News, an established news unit reporting on China’s industrial chain.
The White House asked for nearly $1.6 billion in funding for the U.S. Department of Energy’s Office of Nuclear Energy in the fiscal year 2025 budget proposal, released earlier this week. The requested funding is about 10 percent lower than the FY 2024 budget appropriation but still requires congressional review and approval.

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 Department of Energy’s Office of Clean Energy Demonstrations issued a final environmental assessment (EA) and finding of no significant impact in February for a cost-shared X-energy project to construct and operate a helium test facility (HTF) in Oak Ridge, Tenn. According to the EA, construction would begin in early 2024 and take X-energy and its contracted partner, Kinectrics, about one year to complete. the facility would then operate for six years, with the possibility of extensions for up to an additional 20 years, to test equipment for a demonstration of X-energy’s high-temperature, gas-cooled reactor technology and also to “serve the reactor community at large as the technology continues to develop and is adopted around the world.”

Three climate groups filed a motion for the immediate closure of Diablo Canyon nuclear power plant in California, saying the nuclear plant poses an “unacceptable safety risk.”

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.

International Atomic Energy Agency director general Rafael Mariano Grossi visited Russia this week to discuss the “future operational status” of Ukraine’s Zaporizhzhia nuclear power plant with Russian president Vladimir Putin.

International Atomic Energy Agency experts have confirmed that the tritium concentration in the fourth batch of treated water released from Japan’s Fukushima Daiichi nuclear power plant is far below the country’s operational limit.

The Emirates Nuclear Energy Corporation announced last week start-up at its fourth nuclear unit at the Barakah plant in the UAE.
The plant is run by ENEC’s operating and maintenance subsidiary Nawah Energy Company. In the coming weeks, Unit 4 will be linked to the national electricity grid and undergo testing as power production is gradually increased to full capacity.
A bipartisan group of lawmakers passed legislation from the U.S. House of Representatives this week in support of nuclear energy production.
H. R. 6544 emerged from the chamber following a 365–36 vote. The legislation would speed up environmental reviews for new nuclear projects and reduce fees for advanced nuclear reactor licenses. It would also update the Price-Anderson Act, which limits the industry’s legal liability for nuclear accidents, by extending it for 40 years as well as increasing the indemnity coverage—changes advocated for by the American Nuclear Society in recent position statement updates.