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3d ago

DOE Awards $800 Million to TVA and Holtec to Jump-Start First U.S. Gen III+ Small Modular Reactors

The cost-share de-risks initial deployments to grow a domestic nuclear supply chain.

GE Vernova’s Nuclear energy business, through its global alliance with Hitachi, provides nuclear fuel bundles, services, and advanced nuclear reactor designs.The companies’ 300-MW BWRX small modular reactor features an innovative and simplified configuration. Source: GE Hitachi
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Overview

  • The Energy Department selected two project teams to receive $400 million each in federal cost-shared funding for initial SMR projects in Tennessee and Michigan.
  • TVA plans a GE Vernova/Hitachi BWRX-300 at the Clinch River site near Oak Ridge, with the NRC reviewing its construction-permit application filed in May.
  • Holtec will pursue two SMR-300 units at Michigan’s Palisades site while separately working to restart an 800‑MW pressurized‑water reactor there.
  • DOE said the awards came from a $900 million solicitation updated in March 2025, with roughly $100 million to be allocated later for additional deployments and barrier‑reduction efforts.
  • Project teams are targeting early‑2030s operation, negotiating milestones with DOE, and lining up suppliers and utility partners such as GE Vernova/Hitachi, Duke Energy, BWX Technologies, Scot Forge, and North American Forgemasters.