KNOXVILLE, Tenn. ― The Tennessee Valley Authority (TVA) announced Friday that it is leading an application for $800 million from the U.S. Department of Energy's Generation III+ Small Modular Reactor (SMR) Program with a strong coalition of partners, including Bechtel, BWX Technologies (BWXT), Duke Energy, Electric Power Research Institute (EPRI), GE Hitachi Nuclear Energy (GEH), Indiana Michigan Power - an AEP Company, Oak Ridge Associated Universities, Sargent & Lundy, Scot Forge and North American Forgemasters, the State of Tennessee and other utilities and advanced nuclear project developers.

In 2024, Congress appropriated grant funding to spur the first Gen III+ SMR deployments in the U.S., which will strengthen America’s domestic nuclear industry and help meet the growing demand for affordable, reliable, and clean power.

“We believe advanced nuclear technologies will play a critical role in our region and nation’s drive towards greater energy security,” said Jeff Lyash, TVA President and CEO. “Enabling and accelerating this technology will take innovation and partnership, as well as discipline and hard work. Nuclear is the most reliable and efficient energy the world has ever known, and TVA is uniquely positioned to help drive this forward. We are committed to working with partners and this grant would expedite our work as we invest in America’s nuclear future.”

If awarded, Lyash said the funding will accelerate construction of an SMR at TVA’s Clinch River Project, in Oak Ridge, Tennessee, by two years – with commercial operation planned for 2033. He noted that by working with these partners, TVA is ensuring this funding paves the way for deployment of not just the first SMR at Clinch River but also to help establish a domestic supply chain and support future deployments of advanced nuclear units in the U.S. and beyond.

The benefits from this funding reach beyond Clinch River as TVA will work with partners to share lessons and best practices that will offset costs and reduce risks for customers, while advancing nuclear technology for the entire country.

TVA is following a structured planning process that carefully advances the Clinch River project in phases at which the TVA Board will evaluate and consider approving any next steps. TVA’s Board has not voted to approve an SMR at the nuclear site. Should the Board approve an SMR, the availability of DOE funding would help accelerate the early activities of the project.

TVA is a nuclear energy leader, pursuing the BWRX-300 technology in the U.S., along with Ontario Power Generation (OPG) in Canada who is on the path to construct the same technology and is expected to be operational by 2029. Building on OPG’s progress, TVA is planning for the potential deployment of up to four SMRs at the Clinch River Nuclear site. These deployments will stimulate the supply chain for BWRX-300 reactors in the coming decades.

“Tennessee is leading the nation with safe, reliable, clean nuclear energy to ensure America’s energy independence and a brighter future for all,” said Governor Bill Lee. “I thank the Tennessee Valley Authority and key partners for requesting funding to accelerate SMR development, which will support Tennessee’s nuclear ecosystem development and strengthen our workforce to create even more high-paying jobs for Tennesseans.”

Emerging nuclear technologies are showing great promise for increasing our nation’s power generation capabilities by offering reliable, affordable, flexible and clean-energy alternatives. Traditional nuclear energy is already a safe and secure energy source and SMRs will continue to improve safety and security. Their smaller footprint means they can be built more quickly, are easier to operate and better fit into the landscape due to their compact size.