The Tennessee Valley Authority (TVA) has issued a proposal to supply up to 5,000 megawatts of carbon-free energy, which must be on line by 2029. Nuclear power and renewable energy are listed as acceptable sources of ENERGY for TVA.
Proposals in response to the request must be submitted by October 19. TVA says it will announce the selected project in early 2023. Any transaction resulting from this request will be in the form of an electricity purchase agreement.
TVA's long-term goal is to achieve 70% carbon reduction by 2030 and 80% carbon reduction by 2035 without raising costs or compromising reliability, with net zero emissions by 2050.
In February, TVA announced a new nuclear program to explore advanced nuclear technologies as part of its decarbonization goal. One of its first tasks is to obtain a construction permit for a light water, Small Modular reactor (SMR) at the Clinch River site, and the agency is in discussions with GE Hitachi to support its BWRX-300 light water SMR design.
Maria Korsnick, President and CEO of the Nuclear Energy Institute: "The Tennessee Valley Authority is taking meaningful action to deploy carbon-free energy and advance our shared goal of decarburizing the nation's electric grid, and we commend TVA for recognizing that nuclear will play an important role alongside wind, solar and other low-carbon technologies in meeting customer needs and boosting the economy of the entire region. "Carbon-free nuclear energy is critical for TVA to achieve its decarbonization goals while putting the United States on a path to a just and affordable clean energy transition."
TVA is an American enterprise that provides power to 153 local power companies in Parts of Tennessee and six surrounding states, as well as flood control, navigation and land management for the Tennessee River system. The agency's existing nuclear power plants, three boiling-water reactor units at Browns Ferry, Ala., and two pressurized water plants at Sequoyah and Watts Bar, Tenn., are the third largest in the United States, generating more than 40 percent of TVA.