An illustration of how a Clinch River SMR could look
The program, initially launched in October, offers up to $800 million for two “first-mover” teams and $100 million to address deployment barriers. Eligible SMRs are light-water-cooled, low-enriched uranium-fueled reactors with 50-350 MWe output, emphasizing factory fabrication and enhanced safety. The TVA coalition, comprising Bechtel, BWX Technologies, Duke Energy, and others, applied in January but resubmitted in April 2025 after the Department of Energy revised criteria in March, removing community benefits requirements. Applications are now evaluated on project achievability, financial viability, licensing, and management.
TVA is exploring GE Hitachi’s BWRX-300 SMRs for its Clinch River site near Oak Ridge, Tennessee, with commercial operation targeted for 2032. The funding could advance construction by two years. TVA President and CEO Don Moul stated: “TVA and our partners are leading the way for new nuclear in America to power artificial intelligence, quantum computing, and advanced manufacturing. If awarded, this grant will help TVA and our coalition members build the nation’s first SMR and provide families and businesses with affordable and abundant energy.” TVA has completed an environmental review and plans to submit a Construction Permit Application to the Nuclear Regulatory Commission in summer 2025, with site preparation potentially starting in 2026.
Holtec International, applying for the same funding, aims to build two SMR-300 reactors at the Palisades site in Covert, Michigan, targeting first power by 2030. Holtec’s application, announced via X, seeks funds to advance procurement, licensing, and preconstruction activities. The company also applied for $100 million in “Fast Follower” funding to support an environmental report for its Oyster Creek site and develop an SMR-300 operator training program with a full-scope simulator. Holtec stated: “With the Palisades SMR-300 project leading the way, Holtec is laying the foundation for a new era of clean, safe, and reliable nuclear power.”
These initiatives highlight efforts to deploy advanced nuclear technology in the U.S., supporting energy security and innovation. The TVA and Holtec projects aim to Hundreds of companies, including TVA and Holtec, are leveraging federal funding to accelerate SMR deployment, fostering sustainable energy solutions and economic growth in Tennessee and Michigan.
