Duke Energy has entered a partnership with the U.S. Department of Energy and the Tennessee Valley Authority to share the cost of deploying the GE Vernova Hitachi BWRX‑300 small‑modular reactor (SMR). The DOE’s grant program will provide $400 million to TVA, with an additional $400 million earmarked for Holtec Government Services, bringing the total federal investment in SMR deployment to $800 million.
The BWRX‑300 is a 300‑megawatt electric boiling‑water reactor that incorporates passive safety features and natural circulation for decay‑heat removal. GE Hitachi has been pursuing U.S. licensing since 2020, and the first commercial unit is targeted for early‑2030s operation at TVA’s Clinch River site. Duke’s involvement gives the company early experience with SMR technology and positions it to pursue its own SMR deployment plans, including a planned early‑site permit application for a potential unit at its Belews Creek facility in North Carolina.
Duke’s CEO, Harry Sideris, emphasized that public‑private partnerships accelerate technology development and reduce costs and risks for customers and investors. He noted that the collaboration with TVA and GE Hitachi will advance the BWRX‑300 and lay the groundwork for future SMR deployments that strengthen grid reliability and support economic growth.
The partnership aligns with Duke’s long‑term strategy to diversify its energy portfolio with low‑carbon sources. By securing a foothold in the emerging SMR market, Duke can leverage its existing nuclear expertise while exploring new, scalable nuclear options that complement its current generation mix.
The DOE grant program is part of a broader federal effort to accelerate the commercial deployment of advanced light‑water SMRs. The program aims to bring the first SMR units online in the early 2030s, with the BWRX‑300 being the only commercial SMR design currently under construction in the Western world. The grant also supports Holtec’s planned deployment of two SMR‑300 reactors at the Palisades site in Michigan.
While the announcement does not include immediate market reaction data, the strategic significance of the partnership is clear: it signals a growing federal commitment to SMR technology and positions Duke as a key player in the next generation of nuclear power.
The collaboration is expected to reduce development costs for Duke and its partners, accelerate licensing timelines, and provide a proven technology platform that can be replicated at other sites, thereby enhancing the company’s competitive position in the evolving low‑carbon energy landscape.
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