To accelerate the exploration of new nuclear technologies, Duke Energy joins industry group vying for DOE grant
Duke Energy (DUK) has announced its participation in a multi-joint public-private application for the Department of Energy's U.S. Gen III+ small modular reactor (SMR) technology grant, led by Tennessee Valley Authority (TVA). The initiative aims to advance standard technology design and licensing while reducing costs and risks.
The company has also entered into an agreement with GE Hitachi to invest in activities advancing the standard design and licensing of their BWRX-300 SMR technology. This collaboration, combined with the potential U.S. SMR coalition participation, will facilitate knowledge exchange with TVA and other partners.
The strategy aligns with Duke Energy's long-term 'all of the above' generation approach and supports their clean energy transition goals, including achieving net-zero methane emissions from natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050.
Duke Energy (DUK) ha annunciato la sua partecipazione a una richiesta congiunta pubblico-privato per il programma di sovvenzioni del Dipartimento dell'Energia relativo alla tecnologia dei reattori modulari piccoli di Gen III+ (SMR) negli Stati Uniti, guidata dalla Tennessee Valley Authority (TVA). L'iniziativa mira a sviluppare la progettazione e la concessione di licenze della tecnologia standard, riducendo al contempo costi e rischi.
L'azienda ha anche stipulato un accordo con GE Hitachi per investire in attività che promuovono la progettazione standard e la concessione di licenze della loro tecnologia SMR BWRX-300. Questa collaborazione, unita alla potenziale partecipazione alla coalizione SMR degli Stati Uniti, faciliterà lo scambio di conoscenze con TVA e altri partner.
La strategia si allinea con l'approccio a lungo termine di Duke Energy di 'tutte le fonti' per la generazione e sostiene i loro obiettivi di transizione energetica pulita, inclusa la riduzione a zero delle emissioni di metano dall'attività di gas naturale entro il 2030 e la neutralità delle emissioni di carbonio dalla generazione di elettricità entro il 2050.
Duke Energy (DUK) ha anunciado su participación en una solicitud conjunta público-privada para el programa de subvenciones de tecnología de reactores modulares pequeños de Gen III+ (SMR) del Departamento de Energía de EE. UU., liderada por la Autoridad del Valle de Tennessee (TVA). La iniciativa tiene como objetivo avanzar en el diseño y la concesión de licencias de tecnología estándar, al tiempo que reduce costos y riesgos.
La empresa también ha llegado a un acuerdo con GE Hitachi para invertir en actividades que promueven el diseño y la concesión de licencias de su tecnología SMR BWRX-300. Esta colaboración, junto con la posible participación en la coalición SMR de EE. UU., facilitará el intercambio de conocimientos con TVA y otros socios.
La estrategia se alinea con el enfoque de generación 'todo lo anterior' a largo plazo de Duke Energy y apoya sus objetivos de transición a la energía limpia, que incluyen lograr emisiones netas cero de metano de su negocio de gas natural para 2030 y emisiones netas cero de carbono de la generación de electricidad para 2050.
Duke Energy (DUK)는 테네시 밸리 공사(TVA)가 주도하는 미국 에너지부의 III+ 세대 소형 모듈 원자로(SMR) 기술 보조금에 대해 다중 민관 협력에 참여한다고 발표했습니다. 이 이니셔티브는 표준 기술 설계와 라이센스를 발전시키고 비용과 위험을 줄이는 것을 목표로 합니다.
회사는 GE Hitachi와 협약을 체결하여 BWRX-300 SMR 기술의 표준 설계 및 라이센스를 발전시키는 활동에 투자할 것입니다. 이 협력과 미국 SMR 연합의 잠재적 참여는 TVA 및 다른 파트너와의 지식 교류를 촉진할 것입니다.
이 전략은 Duke Energy의 장기적인 '모두 포함' 발전 접근 방식과 일치하며, 2030년까지 자연가스 사업에서 메탄 배출량을 제로로 줄이고, 2050년까지 전기 생산에서 탄소 배출량을 제로로 줄이는 것을 포함하여 그들의 청정 에너지 전환 목표를 지원합니다.
Duke Energy (DUK) a annoncé sa participation à une demande conjointe public-privé pour la subvention technologique des réacteurs modulaires de petite taille de la génération III+ (SMR) du Département de l'Énergie des États-Unis, dirigée par la Tennessee Valley Authority (TVA). L'initiative vise à faire avancer la conception de la technologie standard et la délivrance de licences tout en réduisant les coûts et les risques.
L'entreprise a également conclu un accord avec GE Hitachi pour investir dans des activités favorisant la conception standard et la délivrance de licences de leur technologie SMR BWRX-300. Cette collaboration, associée à la participation potentielle à la coalition SMR des États-Unis, facilitera l'échange de connaissances avec TVA et d'autres partenaires.
La stratégie est en accord avec l'approche de génération à long terme de Duke Energy qui consiste à 'tout prendre en compte' et soutient ses objectifs de transition énergétique propre, y compris l'atteinte d'émissions nettes nulles de méthane provenant de son activité gazière d'ici 2030 et d'émissions nettes nulles de carbone provenant de la production d'électricité d'ici 2050.
Duke Energy (DUK) hat seine Teilnahme an einer gemeinsamen öffentlich-privaten Antragstellung für den Technologiezuschuss des US-Energieministeriums für kleine modulare Reaktoren der Generation III+ (SMR) angekündigt, die von der Tennessee Valley Authority (TVA) geleitet wird. Die Initiative zielt darauf ab, den Standard für Technologie-Design und Lizenzierung voranzutreiben, während Kosten und Risiken gesenkt werden.
Das Unternehmen hat auch eine Vereinbarung mit GE Hitachi getroffen, um in Aktivitäten zu investieren, die das Standarddesign und die Lizenzierung ihrer BWRX-300 SMR-Technologie fördern. Diese Zusammenarbeit, kombiniert mit der potenziellen Teilnahme an der US-SMR-Koalition, wird den Wissensaustausch mit TVA und anderen Partnern erleichtern.
Die Strategie steht im Einklang mit der langfristigen 'All of the Above'-Generationansatz von Duke Energy und unterstützt deren Ziele für den Übergang zu sauberer Energie, einschließlich der Erreichung netto null Methanemissionen aus der Erdgaswirtschaft bis 2030 und netto null Kohlenstoffemissionen aus der Stromerzeugung bis 2050.
- Partnership with TVA and GE Hitachi reduces technology development costs and risks
- Potential DOE grant funding could support nuclear technology advancement
- Strategic alignment with company's clean energy transition goals
- Access to industry best practices and knowledge sharing through coalition participation
- Significant investment required in new nuclear technology development
- Success dependent on DOE grant approval
- Long-term implementation risks associated with new nuclear technologies
Insights
Duke Energy's strategic move into the SMR coalition represents a calculated step toward nuclear innovation while managing financial and technological risks. The partnership with GE Hitachi for the BWRX-300 SMR technology and participation in the DOE grant application demonstrates a risk-mitigated approach to nuclear expansion.
The public-private partnership structure is particularly shrewd - it allows Duke to share development costs and risks across multiple utilities while gaining early-mover advantages in SMR deployment. This could translate to significant cost savings compared to solo development, potentially reducing the impact on ratepayers and improving returns for shareholders.
For investors, this positions Duke Energy favorably in the evolving energy landscape. The company maintains optionality in its generation mix while pursuing next-generation nuclear technology through a capital-efficient model. The collaboration with TVA and GE Hitachi provides valuable technical expertise and potential economies of scale that could accelerate commercialization timelines.
The selection of GE Hitachi's BWRX-300 SMR technology is technically significant. This design represents a scaled-down version of proven boiling water reactor technology, offering enhanced safety features and operational flexibility. The 300 MWe capacity makes it well-suited for replacing retiring coal plants and integrating with renewable energy sources.
The standardization efforts through the coalition are important - they could substantially reduce licensing timelines and construction costs, two historical barriers to nuclear deployment. The focus on U.S. manufacturing and supply chain development is also strategic, potentially reducing dependency on international suppliers and creating domestic industrial capabilities.
Think of SMRs as the nuclear industry's equivalent to the shift from mainframe computers to personal computers - smaller, more flexible and potentially more cost-effective when produced at scale. This coalition approach could accelerate this transition while distributing development risks across multiple stakeholders.
- Ensures nuclear energy remains core to its 'all of the above' energy generation strategy
- Aligns with Duke Energy's focus on reducing costs and risks for its customers, investors and operations while supporting long-term regional economic development
- Includes agreement to invest in activities to advance standard design and licensing of GE Hitachi's small modular reactor technology while gathering industry learnings and best practices
If awarded by the DOE, the grant, which is being led by Tennessee Valley Authority (TVA), will support Duke Energy's new nuclear strategy by joining with other utilities and technology providers to more cost effectively advance a standard technology design and license, while learning best practices from others in the industry who are also pursuing new nuclear technologies. The goal is to continue to reduce technology risks and costs for the benefit of our customers, communities and investors.
"Our participation in this grant reflects our commitment to nuclear energy's role in our long-term 'all of the above' generation strategy by supporting the rigorous evaluation of future technologies, such as small modular reactors," said Harry Sideris, the company's president. "Public-private partnerships such as this accelerate technology development and increase our access to industry learnings and best practices, so we can deliver the best value for our customers, communities and investors."
As outlined in the DOE grant application, Duke Energy will participate as a member of a proposed
For more information regarding the coalition's DOE grant application, please see the TVA press release here.
Collaboration with GE Hitachi
In addition, Duke Energy has entered into an agreement with GE Hitachi to invest in activities to advance the standard design and licensing for GE Hitachi's BWRX-300 SMR technology. This agreement, along with participation in the potential
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in
Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and nuclear.
More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.
Contact: Jennifer Garber
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