The U.S. Department of Energy awarded $400 million each to Tennessee Valley Authority and Holtec to advance first-generation III+ small modular reactors, aiming to strengthen energy security and enable early 2030s deployment.
TVA Accelerates Clinch River SMR Deployment
Tennessee Valley Authority plans to deploy its first Gen III+ BWRX-300 small modular reactor at the Clinch River site in East Tennessee. TVA will work with partners including GE Vernova Hitachi, Indiana Michigan Power, and Elementl to advance construction and additional units.
“This award affirms TVA’s continued leadership in shaping the nation’s nuclear energy future,” said TVA President and CEO Don Moul. “With Department of Energy’s support and the strength of our partners, we’re accelerating next-generation nuclear energy, reducing financial risk to consumers, and strengthening U.S. energy security.”
TVA submitted a construction permit application to the U.S. Nuclear Regulatory Commission in May. The NRC is currently reviewing the request. TVA also collaborates with domestic nuclear supply chain partners Scot Forge, North American Forgemasters, BWX Technologies, and Aecon. Additional project supporters include Duke Energy, Oak Ridge Associated Universities, and the Electric Power Research Institute.
TVA says the Clinch River project will serve “as a national model for how to deploy SMRs safely, efficiently, and affordably.” The utility expects lessons from the project to help streamline future SMR construction nationwide.
Holtec Plans Palisades SMR-300 Fleet
Holtec International will deploy two SMR-300 reactors, Pioneer 1 and 2, at Michigan’s Palisades Nuclear Generating Station. The project aims to establish a repeatable, fleet-scale model for domestic and international SMR deployment.
“DOE’s confidence in our SMR-300 reactor validates our 14-year quest to develop a walk-away-safe and cost-competitive nuclear reactor,” said Holtec CEO Kris Singh. Holtec will serve as technology vendor, constructor, operator, and electricity merchant, partnering with Hyundai Engineering & Construction.
The reactors are expected online in the early 2030s, providing reliable baseload power for manufacturing, data centers, and the broader economy. Holtec said the initiative will strengthen U.S. energy security and create a blueprint for cost-effective SMR replication.
DOE Pushes Nuclear Energy Expansion
The Department of Energy described the funding as critical for strengthening domestic supply chains, advancing early deployment, and supporting President Trump’s energy dominance agenda. Secretary of Energy Chris Wright said SMRs will deliver “reliable, round-the-clock power to fuel the President’s manufacturing boom, support data centers and AI growth, and reinforce a stronger, more secure electric grid.”
DOE will award an additional $100 million later this year to support other projects, addressing barriers in licensing, site readiness, and supply chains. The funding initiative marks a key step in establishing advanced light-water SMRs as a cornerstone of the country’s nuclear energy strategy.
Visit Oil Gas Energy Magazine for the most recent information.
