Chattanooga Electrical Engineering News Blog
Topics Related to Electronics and Electrical Engineering
Fusion Energy is becoming exceedingly more popular with an investment increase of nearly 150% (just shy of $3 Billion) from last year. “The industry is becoming more optimistic that fusion power will be accessible to the grid by the 2030s, according to the Fusion Industry Association (FIA).
Six participating companies have collectively raised more than $200 million, the FIA reported. Commonwealth Fusion Systems raised $1.8 billion, and Helion Energy raised $500 million.”
Westinghouse is being purchased by two entities: “Cameco Corp (CCO.TO) and Brookfield Renewable Partners said on Tuesday they would acquire nuclear power plant equipment maker Westinghouse Electric in a $7.9-billion deal including debt, amid renewed interest in nuclear energy.
The deal for one of the most storied names in the American power industry at an equity value of $4.5 billion comes at a time when nuclear power is seeing an uptick in interest amid an energy crisis in Europe and soaring crude oil and natural gas prices.”
By PowerMag: “Ontario Power Generation (OPG) and Czech Republic-based ČEZ are collaborating to advance deployment of nuclear technology, including small modular reactors (SMRs). The companies said they signed a memorandum of understanding (MOU) on Oct. 11, with an aim to “reduce financial, technical and schedule risk to both parties on their respective future projects.”
“OPG is Ontario’s largest electricity generator. The company has 75 generating stations in the province with a combined capacity of more than 18 GW. In addition to 66 hydroelectric facilities, its fleet includes two nuclear stations—the 3.5-GW Darlington facility and the 3.1-GW Pickering station (Figure 1). OPG says nuclear power provides about 60% of Ontario’s power today.”
The State – Santee Cooper’s board approved a $2 million settlement Monday in the final lawsuit stemming from the failed V.C. Summer nuclear plant project.
Between 2014 and 2016, South Carolina’s public utility issued mini-bonds to individual investors in an effort to raise money for infrastructure projects, mainly the nuclear plant project in Fairfield County. The mini-bond sales would typically bring in $20 million to $25 million from investors into the state-owned utility, said Santee Cooper spokesperson Mollie Gore.
But in 2019, investors sued Santee Cooper, alleging the utility did not disclose issues surrounding the $9 billion nuclear project, leading to low interest rates.
The State – SCANA and its successor company, Dominion Energy, have reached an agreement to pay the federal Securities and Exchange Commission a $25 million civil fine in one of the state’s largest civil fraud cases, according to public court records filed Wednesday in U.S. District Court.
Under the proposed settlement, neither SCANA, a now-defunct company, nor Dominion Energy, its successor company, admit any fault in the multi-billion dollar business failure of one of the state’s largest construction projects ever – the effort to build two nuclear power plants in Fairfield County.
However, under the proposal, neither corporation can publicly claim it is innocent of any wrong-doing alleged in the SEC’s 87-page civil complaint, filed last February in U.S. District Court in Columbia.