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☆ How GE Vernova plans to deploy small nuclear reactors across the developed world
▼ + stars: | 2024-11-30 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

GE Vernova is aiming to deploy small nuclear reactors across the developed world over the next decade, staking out a leadership position in a budding technology that could play a central role in meeting surging electricity demand and reducing carbon dioxide emissions. GE Vernova is the spinoff of General Electric's former energy business. The U.S. government wants to triple nuclear power by 2050 to shore up an electric grid that is under growing pressure from surging power demand. GE Vernova is targeting more than $2 billion in annual revenue from its small reactor business by the mid-2030s. GE Vernova won the first commercial contract in North America to deploy a small modular reactor for Ontario Power in January 2023.

Persons: Nicole Holmes, Holmes, Kenneth Parks, GE Vernova Organizations: GE, GE Hitachi, GE Vernova, New York Stock Exchange, CNBC, GE Vernova's SMR, U.S, Bank of America, America, Ontario Power, Tennessee Valley Authority, Energy, Toronto . Ontario Power Locations: Cambridge, U.S, Canada, United Kingdom, Europe, Poland, North America, Darlington, Lake Ontario, Toronto

Steam feeding into the Unit 3 turbine generator of the Vogtle nuclear power plant in Waynesboro, Ga. “The United States is now committed to trying to accelerate the deployment of nuclear energy,” John Kerry, President Biden’s climate envoy, said in September. One recent Pew survey found that 57 percent of Americans favor more nuclear plants, up from 43 percent in 2016. A NuScale engineer gave a tour of a control room simulator, modeling the company’s plans for new nuclear reactors, in 2013. “The demand for clean energy is almost unprecedented,” said Maria Korsnick, president of the Nuclear Energy Institute, an industry group.

Persons: Biden, ” John Kerry, Biden’s, “, ”, Jacopo Buongiorno, Jimmy Carter, Rosalyn Carter, Bruce Springsteen, Dan Reicher, Gavin Newsom, Reicher, Clinton, Jeffrey Collins, Arnie Gundersen, John Williams, “ It’s, Patty Durand, Julie Kozeracki, Kendrick Brinson, Jay Wileman, Bill Gates, Dow, Roger Blomquist, NuScale Power, Jose Reyes, Adam Stein, it’s, they’re, Ahmed Abdulla, Robert Taylor, Leah Nash, NuScale, David Schlissel, Joshua Freed, didn’t, Maria Korsnick Organizations: Unit, Republicans, Nuclear Regulatory Commission, Massachusetts Institute of Technology, Associated Press, Madison, Natural Resources Defense, California Gov, Democrat, Associated, Fairewinds Associates, Components, Workers, Georgia, Southern Company, Georgia Power, Georgia Public Service Commission, Energy Department, The New York Times, GE, Hitachi Nuclear Energy, Vogtle . Ontario, Tennessee Valley Authority, Argonne, National Laboratory, Energy, Nuclear Regulatory, NuScale, ”, Breakthrough Institute, Carleton University, Soaring, Institute for Energy Economics, United, Nuclear Energy Institute Locations: U.S, Waynesboro, Ga, Savannah, Georgia, United States, ”, Pennsylvania, Texas, Virginia, Jenkinsville, Vogtle, South Carolina, South, Canada, Tennessee, Argonne, Chicago, Idaho, Wyoming, California, Alaska, Maryland, Pueblo County, Colo

☆ Canada backs nuclear power project with C$970 mln financing
▼ + stars: | 2022-10-25 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

The nuclear power project, which is being developed by utility Ontario Power Generation (OPG) in Darlington, will be the first commercial grid-scale SMR in the Group of Seven wealthy nations (G7), according to the minister's spokesperson. read more"We are doing this because nuclear energy – as a non-emitting source of energy – is critical to the achievement of Canada's and the world's climate goals," Wilkinson will say. "Nuclear power is one source that can help in reaching our climate targets while addressing growing future demand." About 15% of Canada's electricity comes from nuclear power, according to the World Nuclear Association. The reactors are designed by GE-Hitachi Nuclear Energy, an alliance between General Electric Co (GE.N) and Japan's Hitachi Ltd , and could power about 300,000 homes after completion, OPG says.

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