TVA Approves $150 Million for Small Modular Reactors

The Tennessee Valley Authority (TVA) has approved an additional $150 million in funding for the development of small modular reactors (SMRs) at its Clinch River site in Tennessee, bringing the total investment to $350 million. This funding is part of TVA's New Nuclear Program, which aims to support advanced nuclear technology as a critical component of the region's clean energy future. TVA President Jeff Lyash emphasized the importance of SMRs for both energy security and national security, stating that advanced nuclear technologies are essential for meeting rising electricity demands driven by a rapidly growing population. To finance these initiatives, TVA will implement a 5.25% rate increase, resulting in an average bill increase of approximately $4.35 per month starting October 1st. This investment aligns with TVA's broader efforts to expand its clean energy portfolio, which includes significant solar projects and other generation sources. The agency is also preparing a construction permit application for a GE Hitachi BWRX-300 reactor, which is designed to be more efficient and environmentally friendly.