U.S. regulators say they will certify NuScale Power’s small modular reactor design, giving the Portland-based company another lift as it strives to break new ground in nuclear power.
The stamp of approval means that an application to build and operate a plant — a combined license — won’t need to address any issues covered under the certification.
The move comes nearly two years after the Nuclear Regulatory Commission issued a final safety evaluation report for the NuScale design, and after a public comment period.
“When considering the challenges our world faces to address climate change and energy insecurity, NuScale’s SMRs present a timely, carbon-free energy solution for customers and applications around the world and we are pleased with the NRC’s continued acknowledgement of our inherent safety design,” Diane Hughes, NuScale’s VP for marketing and communications, said via email.
One NuScale skeptic, Edwin Lyman, director of nuclear power safety at the Union of Concerned Scientists, called the certification “meaningless” because NuScale has changed its reactor design from 50 megawatts of generating capacity to 77 megawatts. That will necessitate another standard design approval (SDA).
Hughes disputed Lyman’s characterization.
“Completing certification of the 50 MW design certainly has value as it sets the stage for an efficient and effective review of the second SDA, especially since we’ve established alignment with the NRC staff on what a standard design approval should contain,” she said.
NuScale will submit the new SDA application in December this year, Hughes said, based on the six-module configuration the Utah Associated Municipal Power Systems is pursuing for its Carbon Free Power Project in Idaho. The SDA will be part of the project’s combined license application.
UAMPS, a public utility consortium, aims to have the first NuScale reactor online in 2029.
Investors reacted positively to the NRC announcement. After it came out at midday Friday, NuScale’s stock (NYSE: SMR) began rising and finished the day up 6%. Then it climbed another 5.5% on Monday. At its $15.13 close, NuScale was up about 50% from its $10 price when it hit the New York Stock Exchange in early May.
