- 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
CHARLOTTE, N.C., Jan. 17,
2025 /PRNewswire/ -- Duke Energy today announced its
participation in a multi-joint public-private application for the
Department of Energy's (DOE) U.S. Gen III+ small modular reactor
(SMR) technology grant.
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 U.S. coalition on SMRs. This
includes working as a collective group to assess risks and foster
U.S. heavy manufacturing and supply chain capabilities that could
result in cost reductions and collaboration across deployments. The
coalition will also seek input from local communities, including
those impacted by retired fossil plants.
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 U.S. SMR coalition, will
provide another avenue for Duke Energy to exchange valuable insight
and best practices with TVA and other collaborators as they
implement GE Hitachi's SMR technology. This work will help inform
Duke Energy's near-term evaluation and early development activities
for new nuclear, which supports the company's energy transition and
will deliver value to its customers and communities.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in
Charlotte, N.C., is one of
America's largest energy holding companies. The company's electric
utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio
and Kentucky, and collectively own
54,800 megawatts of energy capacity. Its natural gas utilities
serve 1.7 million customers in North
Carolina, South Carolina,
Tennessee, Ohio and Kentucky.
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
24-hour media line: 800.559.3853
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SOURCE Duke Energy