AtkinsRéalis signs Indiana MOU to evaluate up to 6 GW of nuclear capacity
The state and Hoosier Energy will assess sites, financing and power contracts, with no study budget or construction decision date disclosed.
Ines Halvorsen
An evaluation of up to 6 gigawatts of nuclear capacity in Indiana was announced Monday by AtkinsRéalis Group Inc. TSEATRL. The company disclosed no study fee or funding commitment for the potential campus of up to eight reactors in its Oct. 19 release.
The memorandum is with the state of Indiana and Hoosier Energy Rural Electric Cooperative, a not-for-profit wholesale power supplier. The release sets no agreement term, study completion date or deadline for a construction decision.
Shares closed down 0.65 per cent at C$85.45 in Toronto at 4:00 p.m. EDT on Monday, according to the TSEATRL quote on Google Finance.
The memorandum covers initial deployment discussions, while any timetable depends on selecting sites, securing finance and utility or offtake arrangements, and completing licensing, environmental and grid work. AtkinsRéalis announced no reactor order or electricity sales contract.
AtkinsRéalis is an engineering services and nuclear technology company and the steward of CANDU technology. The Indiana evaluation would examine a fleet approach using standardized designs and repeat construction across multiple sites and communities.
Hoosier supplies distribution cooperatives in central and southern Indiana and southeastern Illinois. Those cooperatives serve more than 700,000 member-consumers, the Oct. 19 release said.
The scope includes smaller gas turbine plants that could supply power ahead of nuclear deployment, alongside potential gas-to-nuclear conversion at retiring or retired generation sites. The release gives no equipment delivery dates or power prices.
"The parties will assess the requirements for a potential multi-unit/fleet nuclear program of up to 6.0 GW, including site selection, commercial structures and power purchase agreements, workforce development and grid integration," the company said in the release.
U.S. Licensing Remains At The Pre-Application Stage
The NRC's CANDU page, last updated Sept. 15, identifies the Enhanced CANDU 6 review as pre-application activity associated with a future design certification application. It lists a regulatory engagement plan submitted June 26.
In that June 26 plan, Candu Technologies, Inc., an AtkinsRéalis subsidiary, says it intends to develop and submit a construction-permit application once a customer is identified. It proposes preliminary technical reports before that application.
The filing describes a heavy-water reactor that uses natural uranium, eliminating the need for uranium enrichment. AtkinsRéalis identifies fuel flexibility among the features it is promoting for potential U.S. deployment.
AtkinsRéalis said on Oct. 19 that it had submitted the first of seven planned topical reports, covering its quality assurance program, after an initial public NRC meeting in August.
Elsewhere in the U.S. licensing process, GE Vernova Inc. NYSEGEV said in a Sept. 29 release that the NRC had issued Tennessee Valley Authority a construction permit for its BWRX-300 reactor at Clinch River in Oak Ridge, Tennessee.
Read more: NRC renews Westinghouse AP1000 design certification through 2066
The Indiana announcement provides no date for a study result or a final investment decision. AtkinsRéalis's next scheduled financial update is Nov. 5, when it will release third-quarter results before markets open and hold an earnings call at 9:00 a.m. EST.
