Duke Energy has announced its continued support for advanced nuclear development following the U.S. Department of Energy’s (DOE) recent decision to provide a $400 million grant to the Tennessee Valley Authority (TVA). The funding is intended to accelerate deployment of GE Vernova Hitachi’s BWRX-300 small modular reactor (SMR) technology.
Duke Energy is participating in TVA’s technology grant application, which supports its strategy of advancing new nuclear options through collaboration with other utilities and technology providers. This approach aims to make it more cost-effective to develop standard technology designs by leveraging industry experience.
Harry Sideris, president and chief executive officer of Duke Energy, stated, “Public-private partnerships accelerate technology development and reduce costs and risks for customers and investors. 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 believes that SMRs could play an important role in maintaining reliable energy supply at low cost while contributing to economic prosperity. Duke Energy’s partnership with TVA and GE Vernova Hitachi supports ongoing efforts to evaluate new nuclear generation options. Among these activities is a potential SMR project at the Belews Creek site in North Carolina, where Duke Energy plans to submit an early site permit application to the Nuclear Regulatory Commission by the end of this year.
Duke Energy serves 8.6 million electric customers across six states—North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky—and operates 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in five states.
The company continues investing in grid upgrades and cleaner generation sources as part of its broader transition toward a smarter energy future.
More information about the DOE grant can be found on the Department of Energy website.
