Babcock & Wilcox today announced plans to scale back its mPower Small Modular Reactor Program. “B&W continues to believe in the strength of the mPower technology, but without the ability to secure significant additional investors or custom Engineering, Procurement and Construction contracts to provide the financial support necessary to develop and deploy mPower reactors, the current development pace will be slowed,” the company said in its announcement.
B&W said it notified the Department of Energy on April 9 of its plans to reduce spending. The company said it plans to invest up to $15 million annually, beginning the third quarter of this year.
One of the early plans to deploying mPower reactors was at the old Clinch River Breeder Reactor Site, in a partnership with TVA, etc.
In today’s statement, B&W thanked the Tennessee Valley Authority, DOE and others for the support. James Ferland, president and CEO of B&W, said, “We look forward to working with our stakeholders to find the most efficient way to move this technology toward licensing and deployment in the mid-2020 timeframe.”
A new feature on Atomic City Underground allows readers to sign up for email updates and receive a notice each time new information is posted on the news blog. Just put your email address in the box on the lower right of the blog’s front page and follow instructions. Thanks to all loyal readers.