Loan Programs Office | U.S. Department of Energy’s Post

DOE guessing with energy, for example, today promote solar energy, tomorrow wind energy, then fusion energy, and forgot to start promoting nuclear energy, ask yourself why there are so many and none of them are efficient. Also, all are limited mathematical EROI, which quantifies that they produce energy in losses. It means that the energy future of our nation and the world are in the hands of energy fortune tellers.

It's been a busy day of milestone announcements for nuclear energy in the United States and LPO, as the Holtec Palisades project represents both the first-ever recommissioning of a shut-down nuclear power plant in the U.S. and the first conditional commitment for financing under the landmark, Inflation Reduction Act (IRA)-created Energy Infrastructure Reinvestment (EIR) program! Catch up on all the key takeaways here and for more information, check out the links below. LEARN MORE: • See the U.S. Department of Energy (DOE) press release about the Holtec Palisades conditional commitment: https://lnkd.in/gpfWjQxc and read LPO's full project announcement: https://lnkd.in/g-VNASzC • How the Energy Infrastructure Reinvestment (EIR) program can support projects that reinvest in energy infrastructure throughout the United States: Energy.gov/LPO/EIR • How LPO financing programs can support advanced nuclear energy in the U.S.: https://lnkd.in/g5GShhvJ • What is a Conditional Commitment and How is it Different from a Loan or Loan Guarantee? https://lnkd.in/gkhfhYHZ • Read about other project announcements on LPO's Blog: https://lnkd.in/g23s_Uk4 • President Biden's "Investing in America" Agenda: WhiteHouse.gov/Invest #DOELPO #FinancingAmericanEnergy #BridgeToBankability #DeployDeployDeploy #Liftoff #OpenForBusiness #BuiltInAmerica #FinancingInnovation #FinancingImpact #FinancingClimateSolutions #FinancingAdvancedNuclear #FinancingNuclearEnergy #FinancingEnergyInfrastructureReinvestment #EIR #InvestingInAmerica #LPONews #ConditionalCommitment

Great news out of DOE Loan Programs Office this week, where we announced a conditional commitment for a $1.52 billion loan guarantee to bring the Palisades Nuclear Plant back on line in Covert Township, Michigan. If finalized, it will raise LPO's total funding committed to nuclear projects to more than $13 billion. Nuclear projects are incredibly difficult to finance and time consuming to bring across the line. They face the same licensing and capital cost challenges as any other mega infrastructure project, but also demand a specialized and highly trained workforce, a close relationship and buy-in with the local community, public-private partnerships, and often times, close coordination with international trading partners and allies. But it's well worth the hard work, because the payoff is massive. The Palisades plant will: ⚛ Provide 800MW of carbon free, 24/7 electricity. This kind of firm, low-carbon power is critical to grid stability and decarbonization. ⚛ Support or retain up to 600 high-quality jobs in Michigan– many of them union jobs. ⚛ Avoid 4.47 million tonnes of CO2 emissions per year for a total of 111 million tonnes of CO2 emissions during the projected 25 years of operations—an amount roughly equivalent to the annual emissions of removing more than 970,000 gasoline-powered cars from the road. Let's put that last statistic into perspective: That's close to the total of every single EV sold in the United States in 2023 alone! Nuclear is critical for our climate goals, our clean energy transition, our economic and energy security, and for our national security. I'm feeling very fortunate to be a part of an organization that takes on big, important, and difficult projects like this one.

Last week, Dominion Energy Virginia made two major announcements supporting the company’s future investments. On Tuesday (October 15), the company released its 2024 Integrated Resource Plan (IRP) with the Virginia State Corporation Commission (SCC) and the North Carolina Utilities Commission (NCUC). The plan calls for the build out of about 20 gigawatts (GW) of renewable energy/storage projects, 1 GW of small modular nuclear reactors (SMR), and 6 GW of natural gas generation – all by 2039. On Wednesday, the company and Amazon announced they have entered a Memorandum of Understanding (MOU) to explore innovative new development structures that would help advance potential SMR nuclear development in Virginia. The state is home to more than 230 data centers and more than 60 data providers, putting it far ahead of the other 49 states. Dominion Energy Virginia and Amazon MOU announcement: https://lnkd.in/eg4ypG_3 #poweringgood #HitachiEnergy #powergrid #powergeneration #gridinvestment #datacenters #nuclearpower #energymarketintel Photo credit: Adobe Stock

Dominion Energy’s big power plans! Earlier this week, Dominion Energy Virginia made two major announcements supporting the company’s future investments. On Tuesday (October 15), the company released its 2024 Integrated Resource Plan (IRP) with the Virginia State Corporation Commission (SCC) and the North Carolina Utilities Commission (NCUC). The plan calls for the build out of about 20 gigawatts (GW) of renewable energy/storage projects, 1 GW of small modular nuclear reactors (SMR), and 6 GW of natural gas generation – all by 2039. On Wednesday, the company and Amazon announced they have entered a Memorandum of Understanding (MOU) to explore innovative new development structures that would help advance potential SMR nuclear development in Virginia. The state is home to more than 230 data centers and more than 60 data providers, putting it far ahead of the other 49 states. Comprehensive long-term plan announcement: https://lnkd.in/dqVv7XV7 Dominion Energy Virginia and Amazon MOU announcement: https://lnkd.in/dsFTVEFv #poweringgood #HitachiEnergy #powergrid #powergeneration #gridinvestment #datacenters #nuclearpower #energymarketintel Photo credit: Adobe Stock

AtkinsRéalis selected for Energy Northwest’s SMR project Energy Northwest has chosen AtkinsRéalis as the Owner's Engineer for its small modular reactor (SMR) development project in Washington state. The public power agency, which already operates the Columbia Generating Station, is working with Amazon and X-energy to initially develop four advanced SMRs generating 320 MWe, with an option to expand to 12 reactors. Under the contract, AtkinsRéalis will provide engineering services to support the project’s design, licensing, construction, and commissioning phases. Greg Cullen, Vice President for Energy Services & Development at Energy Northwest, said: "AtkinsRéalis possesses extensive technical expertise on developing complex energy projects, which makes them an ideal partner." The multi-year feasibility phase will include environmental, safety, permitting, and licensing analysis. If approved, the next phase will involve submitting a construction permit application. Joe St Julian, President, Nuclear at AtkinsRéalis, added: "The future of clean energy must include nuclear power, and AtkinsRéalis and Energy Northwest are uniquely positioned to make this vision a reality." This marks another important step forward for SMRs, seen as a key technology for delivering clean, firm, and reliable energy. 2024 has been an incredible year for advanced nuclear but I think 2025 will see some of the biggest milestones. Roll on 2025! AtkinsRéalis Energy Northwest Greg Cullen Joe St. Julian #NuclearEnergy #SMR #CleanEnergy #EnergyTransition #AtkinsRéalis #Innovation

Manhattan Project nuclear site reimagined as a 1 GW solar farm. A DOE project aims to repurpose an 8,000-acre area of DOE-owned land that was formerly used in the U.S. nuclear weapons program. A 580-square mile slice of semi-arid desert in southeast Washington that was used to produce nearly two-thirds of the plutonium used in the United States’ nuclear weapon stockpile is being reimagined as a 1 gigawatt (GW) solar farm with energy storage. If built to that capacity, it would be the largest solar project in the country. The U.S. Department of Energy (DOE) has announced it will enter into realty negotiations with Hecate Energy for a solar project capable of delivering up to 1 gigawatt of clean energy within an 8,000-acre area of the former nuclear weapons production site. Hecate Energy recently made news by submitting an unsolicited lease to the Bureau of Ocean Energy Management (BOEM) to acquire commercial offshore wind energy lease(s) on the Outer Continental Shelf (OCS) in the Gulf of Mexico. In response, BOEM is seeking information regarding whether competitive interest exists in the areas included in Hecate Energy’s request. TNi Energy-BESS 1.20MW 10HR LDES, we've innovated a groundbreaking method that repurposes recycled lead-acid batteries, extending their life span to 25 years for C1 to C20 Energy Storage purposes. Previously, the industry lacked a safe and environmentally conscious alternative to lithium | sodium-ion batteries. However, our proprietary technique reveals that lead-acid batteries are not only SAFER but also 60-75% more cost-effective than their hazardous counterparts. Made in the USA #TNiEnergy,#10HRLDES,#ELDES,#C1toC20,#nebulositycloud, #BESS,#C3Energy,#Energy, #ZEROemmissions, #ZEROcarbon, #energytransistion, #LeadAcid Battery, #windpower, #solarpower, #VPP, #MicroGrid, #DERM, #HydroPower 

Manhattan Project nuclear site reimagined as a 1 GW solar farm. A DOE project aims to repurpose an 8,000-acre area of DOE-owned land that was formerly used in the U.S. nuclear weapons program. A 580-square mile slice of semi-arid desert in southeast Washington that was used to produce nearly two-thirds of the plutonium used in the United States’ nuclear weapon stockpile is being reimagined as a 1 gigawatt (GW) solar farm with energy storage. If built to that capacity, it would be the largest solar project in the country. The U.S. Department of Energy (DOE) has announced it will enter into realty negotiations with Hecate Energy for a solar project capable of delivering up to 1 gigawatt of clean energy within an 8,000-acre area of the former nuclear weapons production site. Hecate Energy recently made news by submitting an unsolicited lease to the Bureau of Ocean Energy Management (BOEM) to acquire commercial offshore wind energy lease(s) on the Outer Continental Shelf (OCS) in the Gulf of Mexico. In response, BOEM is seeking information regarding whether competitive interest exists in the areas included in Hecate Energy’s request. TNi Energy-BESS 1.20MW 10HR LDES, we've innovated a groundbreaking method that repurposes recycled lead-acid batteries, extending their life span to 25 years for C1 to C20 Energy Storage purposes. Previously, the industry lacked a safe and environmentally conscious alternative to lithium | sodium-ion batteries. However, our proprietary technique reveals that lead-acid batteries are not only SAFER but also 60-75% more cost-effective than their hazardous counterparts. Made in the USA #TNiEnergy,#10HRLDES,#ELDES,#C1toC20,#nebulositycloud, #BESS,#C3Energy,#Energy, #ZEROemmissions, #ZEROcarbon, #energytransistion, #LeadAcid Battery, #windpower, #solarpower, #VPP, #MicroGrid, #DERM, #HydroPower 

🔋🔌The future of nuclear power in Brazil’s diversified energy infrastructure At the recent United Nations Convention on Climate Change (COP28), over 20 countries, including the U.S., vowed to triple nuclear energy production as a key step to reaching net-zero greenhouse emissions by 2050. Brazil was not among them. However, the country’s new Nova Indústria Brazil (NIB) industrial policy does promise to expand nuclear energy as part of a USD 60 billion plan to combine economic development and environmental responsibility in its national development agenda. Additionally, Brazil and France signed an agreement on March 28 that foresees collaboration to foster nuclear power generation and tap into Brazil’s uranium reserves. 🔗Read more in the full article by Jennifer Eaglin here 👇 https://lnkd.in/gKeCxdei #Energy #Infrastructure #Brazil #Nuclear

TWELVE SMRs PLANNED FOR ENERGY NORTHWEST Energy Northwest recently announced plans to build and operate 12 SMRs (small modular reactors) in an area just north of Richland, Washington adjacent to their nuclear plant Columbia Generating Station. Columbia Generating Station provides Washington State with about 10% of its electricity, producing 1,207 MWe (megawatts electric), when operating at 100% power. It was built and operated by the Washington Public Power Supply System (WPPS) in 1984 until it changed its name in 1998 to Energy Northwest, which now operates the plant and leases the 580 square-mile site. It is the sole nuclear power plant in the Pacific Northwest and one of only three within the western United States (Columbia Generating Station, Palo Verde Generating Station, and Diablo Canyon Power Plant). Energy Northwest agreed to a partnership with X-Energy Reactor Company, a Rockville, Maryland-based firm that manufactures nuclear fuel and reactors. X-Energy’s SMR, Xe-100, uses their own TRISO particle fuel. This HTGR (high temperature gas-cooled reactor) design produces 80 MWe and is designed for a 60-year operational lifetime with the benefit of online refueling. State lawmakers approved $25 million for the project in March 2024 and the Biden administration has announced plans to “bolster domestic nuclear industry” and backed a multi-country declaration to triple nuclear energy capacity globally by 2050. A specific time frame for these SMRs was not disclosed. #energyindustry #powergeneration #nuclearenergy #nuclearpower #renewableenergy #renewables photo credit: energy-northwest.com