OPG, TVA partner for the development of a new nuclear technology
“As leaders in our industry and our nations, OPG and TVA share a common goal of decarbonizing power generation while maintaining reliability and low-cost service, which our customers expect and deserve,” said Jeff Lyash, Chairman and CEO of TVA. “Advanced nuclear technology will not only help us achieve our net-zero carbon goals, but will also advance North America’s energy security.”
“Nuclear energy has long been the key to from Ontario clean electricity grid, and is a crucial part of our net zero future,” said Ken Hartwick, President and CEO of OPG. “Working together, OPG and TVA will find efficiencies and share best practices for the long-term supply of the cost-effective, carbon-free and reliable electricity our jurisdictions need.”
OPG and TVA have similar histories and missions. Both are based on public power models that developed from renewable hydroelectric generation before adding nuclear to their generation mix. Today, nuclear generation represents a significant portion of their carbon-free energy portfolios.
Both are also actively exploring SMR technologies. OPG is moving forward with plans to deploy an SMR to its Darlington nuclear facility Clarington, ON. The Darlington site is the only site in Canada authorized for a new nuclear power plant with a completed and accepted environmental assessment. TVA currently holds the only early site permit from the Nuclear Regulatory Commission in the United States for the deployment of small modular reactors at its Clinch River site near Oak Ridge, Tennessee.
No funding exchange is involved. However, the collaboration agreement will help OPG and TVA reduce the financial risk associated with the development of innovative technologies, as well as future deployment costs.
“TVA has the most recent experience in building a new nuclear power plant in North America at Watts Bar and this knowledge is invaluable to us as we work towards the new facility at Darlington“, said Hartwick. “Also, as we are a little further along in our construction schedule, TVA will benefit from our experience before starting work at Clinch River.”
“This is a win-win deal that benefits everyone served by OPG and TVA, as well as our nations,” said Lyash. “Advancing this technology is not only an important step in advancing a clean energy future, but also in creating a North American energy hub.”
what others say
“With the growing demand for clean electricity around the world, from Ontario momentum is building. The world is watching Ontario as we move forward in our work to fully unleash our nuclear advantage. I commend OPG and TVA – two great industry leaders – for working together to deploy SMRs and introduce and apply from Canada nuclear expertise that will bring economic, health and environmental benefits that we can all enjoy.”
Ontario Minister of Energy
“Climate change is a global crisis that requires global solutions. The partnership between the Tennessee Valley Authority and Ontario Power Generation to develop and deploy advanced nuclear technology is exactly the type of innovative collaboration that is needed to rapidly bring the next generation of nuclear carbon – from free generation to market. I applaud the leadership shown by both companies in further strengthening our cross-border relationship. »
President and CEO, Institute of Nuclear Energy
As a global leader on climate change and the province’s largest and most diversified electricity producer, OPG and its family of companies are helping to lead the charge toward a post-carbon economy.
The Tennessee Valley Authority is a commercial agency of United States which supplies electricity to commercial customers and local electricity distributors serving nearly 10 million people in parts of seven southeastern states. TVA receives no taxpayer funding and derives virtually all of its revenue from the sale of electricity. In addition to operating and investing its revenues in its electrical system, TVA provides flood control, navigation, and land management for the Tennessee River system and assists local power companies and state governments. and local people in economic development and job creation.
Follow TVA news on Facebook and Twitter
SOURCE Ontario Power Generation Inc.
For further information: OPG, Neal Kelly, [email protected], 416-458-9677, www.opg.com; VAT, Jim Hopson, [email protected]865-632-8860, TVA Public Relations, Knoxville, 865-632-6000, www.tva.com/news