NuScale Reaches Key Milestone in the Development of the Carbon Free Power Project
NuScale Power Corporation announced that its Project Management Committee approved a new Budget and Plan of Finance for the Carbon Free Power Project (CFPP), furthering its commitment to SMR technology. The project, located near Idaho Falls, Idaho, will feature six modules generating 462 megawatts of carbon-free electricity.
NuScale updated the Development Cost Reimbursement Agreement, establishing a target price of $89 per megawatt hour. However, inflationary pressures have increased project costs significantly due to external factors, including a more than 50% rise in steel prices since 2020.
- Approval of a new Budget and Plan of Finance enhances project stability.
- CFPP will generate 462 megawatts of carbon-free electricity, contributing to clean energy goals.
- Inflation has driven up construction costs significantly, impacting project profitability.
- Target price of $89 per megawatt hour reflects a challenging financial landscape.
Carbon Free Power Project’s Project Management Committee passes resolution to move the Project forward on schedule
The CFPP will be the first NuScale Power SMR power plant to begin operation in
As part of the PCE, NuScale worked with its partners at the
The Class 3 PCE determined that the cost of the CFPP has been influenced by external factors such as inflationary pressures and increases in the price of steel, electrical equipment and other construction commodities not seen for more than 40 years. For example, the producer price index for commodities such as carbon steel piping and fabricated steel plates have increased by more than
NuScale’s VOYGR™ SMR power plant remains a competitive source of reliable, affordable and carbon-free power for customers, and we look forward to continuing this strategically critical project with UAMPS and other participating members of the CFPP toward accelerating the deployment of next-generation nuclear energy.
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