Holtec International has announced a change in its partnership with PSEG that opens the door for the utility to buy into Holtec's small modular reactor project.
Under an earlier agreement, PSEG would contribute reactor operations, operator training, procedure development and regulatory guidance for the SMR. PSEG holds ownership stakes in the Hope Creek, Salem and Peach Bottom reactors, and in 2008 it applied for an early site permit to build additional nuclear generation near its Salem and Hope Creek plants.
In a newsletter distributed Monday, PSEG President William Levis was quoted as saying, “This agreement takes our relationship one step further, presenting exciting opportunities for our company and our employees, in addition to offering domestic development opportunities for our region. When the market for SMRs fully develops, I am pleased that PSEG will have a seat at the table.”
Further details of the agreement were limited, but Holtec said PSEG "has been granted an option to acquire an ownership interest in the technology, which paves the way for PSEG Power to be responsible for the training and operations of the SMR-160 when the new reactor units are built."
As with other SMR designers, Holtec has applied for competitive Department of Energy funding to continue development and licensing of the SMR-160 design.