Duke Energy has reaffirmed its commitment to developing advanced nuclear technologies, following the U.S. Department of Energy’s recent announcement of a $400 million grant to support deployment of small modular reactor (SMR) technology. The grant will go to the Tennessee Valley Authority (TVA) for further work on GE Vernova Hitachi’s BWRX-300 SMR.
Duke Energy is participating in TVA’s grant application as part of its broader strategy to advance nuclear energy. By collaborating with other utilities and technology providers, the company aims to reduce costs and accelerate progress toward standardizing SMR designs.
“Public-private partnerships accelerate technology development and reduce costs and risks for customers and investors,” said Harry Sideris, Duke Energy president and chief executive officer. “Our work with TVA and GE Vernova Hitachi will advance the BWRX-300, paving the way for future deployment of SMRs that strengthen grid reliability and support economic growth.”
Duke Energy sees SMRs as an important part of its energy mix, supporting both economic prosperity and system reliability while keeping costs down for customers. The company is working with TVA and GE Vernova Hitachi on near-term activities that include evaluating potential sites for new nuclear generation. One such project involves possible deployment of an SMR at the Belews Creek site in North Carolina, where Duke Energy plans to submit an early site permit application to the Nuclear Regulatory Commission by the end of this year.
Additional details about the federal grant and project teams are available on the Department of Energy website.
Duke Energy is one of America’s largest energy holding companies, serving 8.6 million electric customers across six states and operating 55,100 megawatts of capacity. The company is focused on upgrading its electric grid and expanding cleaner generation sources including natural gas, nuclear power, renewables, and energy storage.
More information can be found at duke-energy.com and through Duke Energy’s social media channels.
