Duke Energy has reaffirmed its commitment to advancing nuclear technology by participating in a U.S. Department of Energy (DOE) cost-share project aimed at supporting the deployment of small modular reactors (SMRs). The DOE recently announced a $400 million grant to the Tennessee Valley Authority (TVA) to accelerate the use of GE Vernova Hitachi’s BWRX-300 SMR technology.
Duke Energy is collaborating with TVA and GE Vernova Hitachi as part of this initiative, which aligns with its strategy to provide reliable, affordable, and carbon-free energy. The company stated that joining other utilities and technology providers helps advance a standard technology design and leverages industry experience.
“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.”
The company sees SMRs as an important part of its diverse energy mix, contributing to economic prosperity while maintaining reliability at low cost. Duke Energy is working with TVA and GE Vernova Hitachi on near-term activities that include evaluating new nuclear generation options. This effort includes plans for potential SMR deployment at the Belews Creek site in North Carolina, where Duke Energy intends to submit an early site permit application to the Nuclear Regulatory Commission by the end of the year.
Duke Energy serves 8.6 million electric customers across six states and owns 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in five states. The company continues to invest in electric grid upgrades and cleaner generation sources such as natural gas, nuclear, renewables, and energy storage.
More information about this grant can be found on the Department of Energy website.
For additional details about Duke Energy’s operations or initiatives, visit duke-energy.com or the Duke Energy News Center.
