Small modular nuclear reactor developer NuScale Power, rocked by collapse of its only project and hammered by a freefall in its share prices, is facing another major threat. Boston-based law firm Block & Leviton announced Monday (Nov. 27) that it has filed a “class-action shareholder lawsuit in federal court, alleging the company ‘made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects.’”
Those who have followed NuScale closely have known that the company’s deal with the Utah Associated Municipal Power Systems (UAMPS) was in trouble well before its cancellation announced Nov. 8. Just before UAMPS walked out of the deal to supply six 77-MW small modular reactors to serve cities in 16 western states, NuScale announced a deal with a company trying to develop data centers for crypto currency mining operations.…
Ed. note: Nuclear Power is a much talked about technology in the current climate debate. Electricity veteran Ken Maize of Quad Report provides an update on three current nuclear issues: a new, mysterious NuScale power agreement; Plant Vogtle legal restitution; and the recommissioned 805-MW Palisades plant in Michigan.
NuScale’s Mystery Deal
NuScale Power has landed a deal with privately-owned blockchain data center developer Standard Power to provide two planned data centers in Pennsylvania and Ohio, 924-MW each, with electricity from arrays of NuScale’s 77-MW VOYGR small modular reactors, 12 for each data center. NuScale’s partner ENTRA1 Energy has the exclusive rights to develop, manage, own and operate energy production plants powered by NuScale’s SMRs.
NuScale (founded 2007) and ENTRA1 created an exclusive global partnership in 2022 to commercialize NuScale’s small modular reactors (SMRs). …
“The historic trends contradict the conventional view that fossil generation has been declining, while renewables are gaining. According to the data, ‘The share of low carbon fuels (nuclear, hydro, wind & solar) peaked at 36% in 1995, coinciding with COP1 [the first UN conference of parties].'”
In the worldwide battle for electric generation, coal isn’t down and out. It isn’t even on the ropes. According to World Energy Data (formerly BP’s data collection report), coal is still the champ.
In 2022, coal accounted for 35.4% of global electric generation, followed by natural gas (22.7%), hydro (14.9%), nuclear (9.2%), wind (7.2%), solar (4.5%), geothermal, biomass, and other renewables (3.6%).
The historic trends contradict the conventional view that fossil generation has been declining, while renewables are gaining. According to the data, “The share of low carbon fuels (nuclear, hydro, wind & solar) peaked at 36% in 1995, coinciding with COP1 [the first UN conference of parties].”…