The U.S. Department of Energy has awarded $800 million to the Tennessee Valley Authority and Holtec Government Services to support construction of what may be the country’s first advanced small modular reactors.
DOE said Dec. 2 that the cost-shared funding is part of President Donald Trump’s energy dominance agenda, which includes a nuclear renaissance.
Both funding awards are $400 million and center on Gen III+ light-water SMRs.
TVA plans to place a GE Vernova Hitachi BWRX-300 at its Clinch River site in Tennessee and accelerate the deployment of other such units in cooperation with Indiana Michigan Power and Elementl Power. (See TVA First U.S. Utility to Request SMR Construction Permit.)
Holtec, which is shaping itself as a one-stop shop for SMR development — technology developer and vendor, supply chain vendor, and plant constructor — plans to deploy two of its SMRs beside the formerly retired Palisades Nuclear Generating Station, which it is preparing to restart.
The two awards constitute the bulk of the $900 million solicitation DOE issued in March to help early movers in the SMR sector reduce risks. The remaining $100 million will be awarded later this year, DOE said.
“Advanced light-water SMRs will give our nation the reliable, round-the-clock power we need to fuel the president’s manufacturing boom, support data centers and AI growth, and reinforce a stronger, more secure electric grid,” Energy Secretary Chris Wright said. “These awards ensure we can deploy these reactors as soon as possible.”
Holtec said the first-mover award would catalyze the first-of-a-kind deployment of its proprietary SMR-300, which it calls Pioneer 1 and 2. This supports its effort to build a repeatable, standardized, fleet-scale model, which was a core requirement of the DOE funding offer.
“We are energized by DOE’s confidence in our SMR-300 reactor, which we view as validation of our 14-year quest to develop a walk-away-safe and cost-competitive nuclear reactor,” Holtec International CEO Kris Singh said.
Similarly, TVA said the Clinch River project would serve as a national model for how to deploy SMRs safely, efficiently and affordably.
“With DOE’s support and the strength of our partners, we’re accelerating the deployment of next-generation nuclear — reducing financial risk to consumers and strengthening U.S. energy security,” CEO Don Moul said. “This is how we deliver reliable, affordable energy and real opportunity for American families.”
GE Vernova Hitachi Nuclear Energy is part of the coalition TVA put together to apply for the DOE funding. GE Vernova CEO Scott Strazik said in a news release: “The BWRX-300 is the only commercial SMR technology being built right now in the Western world, and this grant will accelerate its deployment in the U.S.”
Earlier in 2025, Ontario Power Generation broke ground on a BWRX-300 facility that eventually is expected to house four SMRs.
