The writer is an analyst at KB Securities. He will be reached at moonjoon.chang@kbfg.com. — Ed.
DOE selects Holtec and TVA as recipients of federal funding for SMR deployment
ㅡ On Dec 2 (native time), the U.S. DOE introduced Holtec and TVA have been chosen to obtain federal funding for spurring SMR deployment.
ㅡ Holtec and TVA every have a Gen III+ SMR undertaking in Palisades (Michigan) and Oak Ridge (Tennessee).
ㅡ The DOE’s Gen III+ SMR funding is an extension of U.S. insurance policies so as to add nuclear technology capabilities by 2030, strengthen its home provide chain and advance its nuclear renaissance.
Gen III+ SMR Pathway to Deployment Program
ㅡ The Gen III+ SMR Pathway to Deployment Program is a USD900mn federal funding program to speed up the utilization of Gen III+ SMR know-how and scale back the know-how/design hole between light-water and cutting-edge reactors.
ㅡ The DOE accepted functions till Apr 2024 and introduced the outcomes on Dec 2 (native time).
ㅡ Holtec and TVA have been chosen as First Mover Groups–companies able to fast Gen III+ SMR deployment–and will every obtain USD400mn.
ㅡ This system’s remaining USD100mn shall be used to sort out obstacles, reminiscent of reactor designing, licensing/approval and supply-chain readiness.
Holtec: Palisades reactor restart & SMR-300 deployment
ㅡ On the Palisades NPP website, Holtec’s plans to restart the reactor earlier than including two SMR-300 reactors.
ㅡ Holtec accomplished the design for its FOAK SMR-300 reactor and plans to signal a EPC take care of Hyundai E&C to interrupt floor in 1Q26.
ㅡ Holtec’s goals to deploy extra SMRs throughout the U.S., together with 4 in Oyster Creek and 10 in Utah.
Nuclear tasks in U.S. not simply potential; Hyundai E&C positioning itself as nuclear play
ㅡ As seen within the DOE’s number of SMR first movers and the settlement between the U.S. authorities and with Westinghouse, the U.S.’s aspirations to develop nuclear power is not simply potential: tasks are on the verge of breaking floor.
ㅡ For Hyundai E&C, seen milestones in 2026 embrace groundbreaking for Holtec’s Palisades SMR undertaking in Michigan, Fermi’s full-size NPP undertaking in Texas and Bulgaria’s full-size NPP undertaking.
ㅡ Buyers appear to be demanding tangible outcomes from nuclear power firms (e.g., order receipts, development begins, contracts, FID) and never simply information circulation.
ㅡ We see Hyundai E&C delivering extra tangible ends in the nuclear sector than another world EPCs in 2026, which is the rationale we favor Hyundai E&C as our development/nuclear power prime choose.
