Duke Energy has reaffirmed its commitment to advancing nuclear energy technology following the U.S. Department of Energy’s (DOE) announcement of a $400 million grant to the Tennessee Valley Authority (TVA). The funding will support continued work on deploying GE Vernova Hitachi’s BWRX-300 small modular reactor (SMR) technology.
Duke Energy is participating in TVA’s grant application as part of its strategy to collaborate with other utilities and technology providers. This approach aims to develop a standard design for SMRs, reduce costs, and incorporate lessons learned across the industry. The company sees this collaboration as aligning with its long-term goal to provide reliable, affordable, and carbon-free energy while supporting economic growth in the United States.
“Public-private partnerships accelerate technology development and reduce costs and risks for customers and investors,” said Harry Sideris, Duke Energy president and chief executive officer. “Our work with TVA and GE Vernova Hitachi will advance the BWRX-300, paving the way for future deployment of SMRs that strengthen grid reliability and support economic growth.”
Duke Energy considers SMRs an important component of its diverse energy portfolio. The company believes these reactors can help maintain reliability at a low cost while contributing to economic prosperity. Duke Energy is currently evaluating opportunities for new nuclear generation through collaboration with TVA and GE Vernova Hitachi. One such effort includes plans to submit an early site permit application by year-end for potential SMR deployment at the Belews Creek site in North Carolina.
The DOE’s investment is intended to speed up the deployment of advanced nuclear technologies like SMRs in the United States. More details about the grant are available on the Department of Energy website.
Duke Energy serves 8.6 million electric customers across six states—North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky—and owns 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio, and Kentucky.
The company continues investing in electric grid upgrades and cleaner generation sources such as natural gas, nuclear power, renewables, and energy storage as part of its ongoing energy transition.
For more information about Duke Energy’s initiatives or recent developments related to advanced nuclear projects, visit duke-energy.com or the Duke Energy News Center.
