NuScale surges as Standard Power selects its SMR technology for projects (NYSE:SMR) - Seeking Alpha
NuScale surges as Standard Power selects its SMR technology for projects (NYSE:SMR) | Seeking Alpha
NuScale surges as Standard Power selects its SMR technology for projects
NuScale Power Corporation (SMR) By:
Carl Surran, SA News Editor
12 Comments vchal/iStock via Getty Images
NuScale Power (NYSE: SMR) +15.3% in Friday's trading after Standard Power chose its small modular reactor technology to power two facilities it plans to develop, one in Ohio and one in Pennsylvania to provide nearly 2 GW of clean energy for data centers.
ENTRA1 Energy, an independent global energy development and production company, also will support Standard Power's two projects.
NuScale ( SMR) received approval from the U.S. Nuclear Regulatory Commission for its 50 MWe design in 2020 and design certification in 2023, making it the first and only SMR technology to achieve either milestone; the company's 77 MWe uprated design is currently under review with the NRC.
Standard Power - which provides infrastructure for advanced data processing companies - said if initial plans for the two facilities are ultimately realized, NuScale ( SMR) would provide 24 units of 77 MWe modules for a combined capacity of 1,848 MWe.
Related Knowledge Center: ENERGY BASICS: nuclear
Nuclear energy provides almost 20 percent of the U.S. electricity supply. Advocates have called for an expanded role for nuclear as an emissions-free fuel source. But the economics of building new reactors are daunting. In addition, lingering safety concerns are an institutionalized part of the calculation of nuclear regulation, and highly radioactive nuclear waste remains a can that public officials have been inclined to kick down the road. The Energy Information Administration projects a sharp decline in nuclear power generation over the next decade, as new nuclear plants — two are planned — are more than offset by anticipated retirements of several operating reactors.