NuScale Power, LLC Submits Part II of DOE Loan Guarantee Application

NuScale Power, LLC, announced that the company has successfully submitted Part II of its Title XVII loan guarantee application to the U.S. Department of Energy (USDOE) under the Department’s Advanced Nuclear Energy Projects Solicitation.

Under this solicitation, USDOE seeks applications for loan guarantees to finance projects located in the United States that employ innovative advanced nuclear energy technologies that avoid, reduce or sequester anthropogenic emission of greenhouse gases. The USDOE Loan Guarantee Program was established under Title XVII of the Energy Policy Act of 2005, and has $12.5 billion in loan guarantee authority for Advanced Nuclear Energy Projects.

“This application is another step in our successful partnership with the Department of Energy,” said John Hopkins, Chairman and CEO of NuScale Power. “With their ongoing support, we are well along the path to bringing this innovative design to market, creating jobs and preserving American leadership in nuclear technology.”

Earlier this year, NuScale announced submission of the Design Certification Application to the U.S. Nuclear Regulatory Commission. That application, now under review, was funded in part under the USDOE Licensing and Technical Support cost-share program.

If approved, the NuScale loan guarantee will support construction of the Carbon Free Power Project, the first Small Modular Reactor (SMR) to be built in the United States. The Utah Associated Municipal Power System (UAMPS) will own the plant, with planning underway for a site at the Idaho National Laboratory, near Idaho Falls, Idaho.

“For the Carbon Free Power Project to be successful, we need to be competitive,” said Doug Hunter, CEO of UAMPS. “This loan guarantee, along with other government support, allows us to be fully competitive with natural gas without adding any greenhouse gas emissions.”

Other programs affecting advanced nuclear energy development are currently under review, including possible extension of Production Tax Credits and support for supply chain development and construction.