[Alpha Biz= Kim Jisun] SK Innovation announced on March 5 that TerraPower, a U.S. next-generation small modular reactor (SMR) company jointly invested in by SK Innovation and Korea Hydro & Nuclear Power, has received approval from the U.S. Nuclear Regulatory Commission (NRC) to construct a commercial advanced nuclear power plant.

It marks the first approval in about a decade for the construction of a new commercial nuclear power plant in the United States, and the first-ever approval for an advanced reactor such as an SMR.

Following the approval, TerraPower will begin construction of the world’s first commercial SMR plant in Wyoming. The company aims to operate a demonstration reactor by 2030 while accelerating its entry into the global SMR market.

Industry observers say the NRC’s approval represents official recognition by regulators of the safety and technological readiness of TerraPower’s next-generation SMR technology.

 

 

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