Bill Coley’s wealth of experience in all phases of power generation will be a great asset to NuScale,” said Paul Lorenzini, chief executive officer of NuScale. “We are delighted that Bill has accepted our invitation to serve on the board
– By Chris Smith –
Veteran electric utility executive William A. Coley has joined the board of directors of NuScale Power, Inc., the company announced.
“Bill Coley’s wealth of experience in all phases of power generation will be a great asset to NuScale,” said Paul Lorenzini, chief executive officer of NuScale. “We are delighted that Bill has accepted our invitation to serve on the board.”
Coley retired last year as chief executive of British Energy Group PLC after five years in that position. He previously served as president of Duke Power Co. of Charlotte, NC, from 1997 to 2003, culminating a 37-year career with the utility. He said he looks forward now to working with a leader in the renaissance of nuclear power.
“NuScale’s unique modular, scalable, light water reactor design brings advantages that will make it very attractive in markets worldwide,” Coley said. “NuScale has the right combination of inherent safety, environmental benefit and economics to make it the nuclear power technology of choice for many utilities.”
Odo Habeck, CEO of MK Capital and a NuScale board member, welcomed Coley to the board. “All of us who serve on the NuScale board are pleased to welcome Bill to this exciting company,” Habeck said. “Bill is that rare professional who knows not only nuclear technology, but also how energy executives and investors think. All of us in the NuScale family look forward to working with him.”
Coley began his career with Duke Power as a junior engineer at the Marshall Steam Station in 1966. After holding a range of engineering and operating positions, he became senior vice president for power delivery in 1988. He was elected to Duke Power's board of directors in 1990.
Coley is a director of Peabody Energy (NYSE:BTU), and of E.R. Jahna Enterprises, a privately-held company.
NuScale Power is developing a modular, scalable nuclear power reactor. A power plant using NuScale’s standard design will produce 540 MWe using 12 of NuScale’s 45 MWe light water modular reactors. The company expects to apply to the Nuclear Regulatory Commission in early 2012 for design certification with a goal of bringing a plant online as early as 2018.