Babcock & Wilcox receives DOE award to develop nuclear SMRs
The Department of Energy (DOE) has announced an award to support a new project to design, license and help commercialize small modular reactors (SMR) in the U.S. The project supported by the award will be led by Babcock & Wilcox (B&W) in partnership with the Tennessee Valley Authority and Bechtel International. In addition, the DOE announced plans to issue a follow-on solicitation open to other companies and manufacturers, focused on furthering small modular reactor efficiency, operations and design. This award follows a funding opportunity announcement in March 2012.
“The Obama Administration continues to believe that low-carbon nuclear energy has an important role to play in America’s energy future,” said Secretary of Energy Steven Chu. “Restarting the nation’s nuclear industry and advancing small modular reactor technologies will help create new jobs and export opportunities for American workers and businesses, and ensure we continue to take an all-of-the-above approach to American energy production.”
Through a five-year cost-share agreement, the DOE will invest up to half of the total project cost, with the project’s industry partners matching this investment by at least one-to-one. The specific total will be negotiated between the DOE and Babcock & Wilcox.
The DOE says it plans to issue a new funding opportunity announcement to address this goal and support continued design development and certification of innovative SMR technologies.