Holtec targets US-wide nuclear reactor fleet using learnings at Palisades
June 5 - Holtec International's plan to deploy two small modular reactors (SMRs) at the Palisades nuclear plant site in Michigan by 2030 shows how developers are looking to capitalize on soaring U.S. power demand and build on existing nuclear expertise to deploy the first wave of next-generation reactors.
In a partnership with Hyundai Engineering & Construction, Holtec plans to build 10 GW of SMRs in North America through the 2030s, starting at Palisades.
Holtec is restarting the decommissioned 800 MW Palisades nuclear power plant and plans to install two of its SMR-300 reactor units, based on existing light water reactor (LWR) technology, at the same facility.
The cost of deploying SMRs at Palisades will be lower than on sites with no atomic presence, Patrick O'Brien, Holtec International's director of Government Affairs and Communications, told Reuters Events.
Existing nuclear sites offer developers a range of power and logistics infrastructure and a skilled local workforce. A proven history of safe operations can help minimise local opposition.
"In having environmental data, a trained and talented workforce, and the ability to interconnect to an established switchyard, the costs will be lowered," O'Brien said.
Holtec could also site up to four SMR units at the Oyster Creek nuclear power site in New Jersey, where the company plans to decommission a shuttered 625 MW boiling water reactor by 2029, he added.
MAP: US operational nuclear power plant sites
Holtec sees major growth potential for SMRs in the Mountain West region. A 4 GW fleet of SMR-300s could be deployed, mainly in Utah and Wyoming in the 2030s, supported by ongoing testing at the Idaho National Laboratory (INL) and recently passed legislation supporting nuclear power development in Utah, the company said on May 1.
'The new legislation supports our vision to start the incubation of our SMR-300 program in Utah and expand it into the Mountain West,' Holtec Chief Strategy Officer Admiral Roegge said in a statement.
Nuclear pioneers
The U.S. Department of Energy (DOE) estimates 60 to 95 GW of new nuclear capacity could be built at operating or recently retired nuclear power plant sites across the country, according to a study published by the DOE in September 2024. Malwina Qvist, director of the Nuclear Energy Program at the Clean Air Task Force (CATF), sees the potential for at least 80 to 100 GW at these sites.
A project led by Canadian utility Ontario Power Generation (OPG) to deploy four GE Vernova Hitachi BWRX-300 SMRs at Ontario's Darlington nuclear power plant will also benefit from existing nuclear infrastructure and workforce.
The first SMR at Darlington will be the "first of its kind" in the G7 group of wealthy nations, OPG said.
CHART: Small modular reactor projects by country
U.S. utility Tennessee Valley Authority (TVA) recently submitted a construction permit application to the Nuclear Regulation Commission (NRC) for the BWRX-300 SMR model, eyeing deployment of a first unit at its Clinch River site by 2032.
TVA could have a "second-mover advantage" following the planned deployment of the technology in Canada, according to Stephen Comello, senior vice president of Strategic Initiatives at the EFI Foundation.
TVA has a collaboration agreement with OPG which it said facilitates sharing of experiences that could reduce the financial risks of innovating new technology while taking advantage of both companies' extensive nuclear energy experience.
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TVA's Clinch River site could host up to four SMRs and the company also plans to evaluate other nuclear locations for locating small reactors, a TVA spokesperson told Reuters Events.
DOE funds
Holtec is one of a small group of developers seeking to win funds from the DOE in a funding round for LWR SMR technology (Gen III+). Other LWR-based SMR reactors include Westinghouse's AP300 and NuScale's SMR 3.
In March, the Trump administration reissued a DOE tender for $900 million in federal funding to help de-risk deployment and removed a previous requirement for community engagement, underlining their support for new nuclear.
In Tier 1 funding, the DOE will provide $800 million for up to two consortia towards the deployment of Gen III+ reactors. In Tier 2, $100 million will support additional Gen III+ SMR deployments by addressing design, licensing, supply chain, and site preparation issues.
If selected, Holtec would use Tier 1 funding to help complete licensing work and some initial groundwork, O'Brien said. Tier 2 funding would go towards manufacturing upgrades to prepare for SMR construction and environmental analysis for the Oyster Creek facility, where the company could install up to four SMR-300s following the Palisades project.
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Uncertainty over the cost of the first SMR reactors is a key challenge for developers looking to deploy commercial-scale units and drive down investment risks.
An official cost estimate announced this month for OPG's Darlington SMR project in Canada provides insight into the potential investments required to deploy LWR SMRs in the United States, according to Comello.
Construction of the four BWRX-300 SMRs at Darlington is estimated at C$20.9 billion ($15.2 billion), according to a statement released by the Province of Ontario. The cost of the first SMR is estimated at C$6.1 billion and costs for systems and services standard to all four SMRs are estimated at C$1.6 billion. Costs are expected to decline with each subsequent unit as efficiencies are gained.
"That is a good estimate for a first-of-a-kind light water reactor GEN-III SMR that has a sufficient design maturity, which I think is what Holtec should be on its way to," Comello said.
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