OPG and TVA announce ‘win-win’ SMR agreement
Two of North America’s major nuclear utilities have announced a partnership to develop advanced nuclear technology as an integral part of a clean energy future and creating a North American energy hub.
Canada-based Ontario Power Generation and Tennessee Valley Authority of the US said they will jointly work to help develop small modular reactors as a long-term source of 24/7 carbon-free energy in both Canada and the US.
They said the no exchange of funding is involved in the “win-win” agreement. However, the collaboration will help OPG and TVA reduce the financial risk that comes from development of innovative technology, as well as future deployment costs.
Canada-based Ontario Power Generation and Tennessee Valley Authority of the US said they will jointly work to help develop small modular reactors as a long-term source of 24/7 carbon-free energy in both Canada and the US.
They said the no exchange of funding is involved in the “win-win” agreement. However, the collaboration will help OPG and TVA reduce the financial risk that comes from development of innovative technology, as well as future deployment costs.
The agreement allows the companies to coordinate their explorations into the design, licensing, construction and operation of SMRs.
OPG and TVA have similar histories and missions. Both are based on public power models that developed from renewable hydroelectric generation before adding nuclear to their generation mixes. Today, nuclear generation accounts for significant portions of their energy portfolios.
Both are also exploring SMR technologies. OPG plans to deploy an SMR at its Darlington nuclear facility in Ontario. The Darlington site is the only location in Canada licensed for new nuclear. TVA holds the only Nuclear Regulatory Commission early site permit in the US for SMR deployment at its Clinch River site near Oak Ridge, Tennessee.
