DOE Announces New Investment in Small-Scale Reactors

WASHINGTON, DC - APRIL 09: Secretary of Energy nominee Ernest Moniz arrives for testimony before the Senate Energy and Natural Resources Committee April 9, 2013 in Washington, DC. Moniz, a nuclear physicist, testified before a full committee hearing on his pending nomination. 
National Journal
Add to Briefcase
Clare Foran
Dec. 13, 2013, 1:24 a.m.

The Energy Department is continuing to invest in the promise of small-scale nuclear reactors as part of the president’s “all of the above” energy strategy.

The department announced Thursday an investment in a small modular-reactor project currently under development by NuScale Power, headquartered in Portland, Ore.

DOE will help finance the project through a cost-share agreement spanning five years, during which time the department will match private investment in the project up to an a yet-to-be-determined total amount. The investment comes as part of DOE’s Small Modular Reactor Licensing Technical Support program.

Energy Secretary Ernest Moniz touted the potential benefits of the technology in a statement Thursday.

“Small modular reactors represent a new generation of safe, reliable, low-carbon nuclear-energy technology and provide a strong opportunity for America to lead this emerging global industry,” Moniz said. “The Energy Department is committed to strengthening nuclear energy’s continuing important role in America’s low-carbon future, and new technologies like small modular reactors will help ensure our continued leadership in the safe, secure, and efficient use of nuclear power worldwide.”


Welcome to National Journal!

You are currently accessing National Journal from IP access. Please login to access this feature. If you have any questions, please contact your Dedicated Advisor.