Babcock & Wilcox (B&W) and Bechtel have announced they will develop the first small-scale Generation III++ nuclear power stations.
The new venture, to be known as Generation mPower, aims to design, license, and deploy 125MW plant. The venture claims the designs will be competitively costed.
President of Bechtel’s power business, Jack Futcher, said: “The formation of Generation mPower is a turning point in the nuclear power plant industry – it has the potential to be a real game changer. This alliance intends to advance the development and deployment of nuclear power in a way that makes nuclear power more accessible to utilities and more affordable to consumers.
“Bechtel brings the plant engineering, procurement and construction capability to complement B&W’s expertise in nuclear engineering and manufacturing. Together, we have the resources, experience and expertise to deliver on the promise of a new clean energy option.”
“This alliance is about two companies maintaining America’s historic leadership in the nuclear energy industry,” said president of B&W nuclear, Chris Mowry.
“The formation of our Generation mPower alliance demonstrates a new level of commitment by American industry to address the growing challenge of climate change in an economical and practical way with small modular reactor technology. It brings together industry leaders in the areas of nuclear technology, manufacturing and construction. We believe that Generation mPower positions us to collectively deliver greater certainty in nuclear project cost and schedule, which are necessary to enable broader, more timely deployment of nuclear power.”
Depending on regulatory approval and other factors, the first planwillinitially focus on the US and Canadian markets, but aims to have a working model in operation as early as 2020.