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North America Geothermal Energy Investment Opportunities, Companies, Resources, and Market Outlook

Investment Opportunities in North American Geothermal Energy North America is entering a new investment cycle in geothermal energy. The United States offers the region’s deepest commercial market and the largest advanced-geothermal pipeline; Mexico provides proven high-temperature volcanic resources and an established utility-scale industry; while Canada presents an earlier-stage opportunity centered on sedimentary-basin geothermal, direct-use heating, closed-loop systems, and oil-and-gas technology transfer. The investment case now extends well beyond conventional geothermal power plants. It includes enhanced geothermal systems, advanced closed-loop systems, geothermal heat pumps, district heating, industrial heat, geothermal storage, lithium extraction from geothermal brines, data-center power, and hybrid renewable-energy projects. In the United States, utilities had already procured or agreed to procure 1,007 MW of next-generation geothermal capacity through 12 power-purchase agreem...

"GE Hitachi Nuclear Energy, OPG, SNC-Lavalin and Aecon Sign Historic Contract for Deployment of Groundbreaking Small Modular Reactor at Darlington Nuclear Project Site"





image source:(unsplash.com,Jakob Madsen)
GE Hitachi Nuclear Energy (GEH), in partnership with Ontario Power Generation (OPG), SNC-Lavalinand Aecon, has signed a contract for the deployment of a BWRX-300 small modular reactor (SMR) at OPG’s Darlington New Nuclear Project site, marking the first commercial contract for a grid-scale SMR in North America. This groundbreaking agreement, through which GEH will provide the reactor design, encompasses a comprehensive range of project activities, including design, engineering licensing support, construction, testing, training and commissioning.


Jay Wileman, President and CEO of GEH, stated, "This contract is an important milestone and solidifies our position as the leading SMR technology provider. We aim to deliver the first SMR in North America and, in doing so, lead the start of a new era of nuclear power that will provide zero-emission energy generation, energy security and energy reliability around the globe. We can’t express our appreciation enough for the leadership role that OPG and the Province of Ontario are taking for a project that will benefit Ontario, Canada and the world."


This contract comes amid a growing global interest in the BWRX-300, with the Tennessee Valley Authority (TVA) and SaskPower recently announcing their own plans for potential deployment, and ORLEN Synthos Green Energy (OSGE) in Poland beginning the pre-licensing process. GEH has also established memoranda of understanding or other agreements with companies in Canada, Poland, U.K., U.S. and Sweden among others, and has begun the licensing process for the BWRX-300 in the U.K.


Sean Sexstone, Executive Vice President of Advanced Nuclear at GEH, said, "This first commercial contract for a small modular reactor in North America marks a significant milestone in deploying SMRs in Canada and across the globe. We look forward to working with our partners to ensure this project is delivered safely, on-time and within budget, providing significant opportunity for the team and the Province of Ontario. GEH is excited and humbled to be leading the industry as the world looks to adopt SMR technology to help achieve its energy and security objectives."


The BWRX-300 is a crucial component of GEH's energy transition leadership, designed to help customers achieve decarbonization goals and reduce construction and operating costs below other nuclear power generation technologies. With its unique combination of existing fuel, plant simplifications, proven components, and a design based on already licensed reactor technology, the BWRX-300 is poised to usher in a new era of nuclear power.

SMR stands for Small Modular Reactor, a type of advanced nuclear reactor technology. It is designed to be smaller in size, scalable, and capable of being built in a factory and transported to a site for installation. They aim to provide safe, reliable and low-carbon energy with reduced capital costs and increased operational flexibility.

SMRs typically operate on the same basic principles as traditional nuclear reactors, using nuclear fission to generate heat which is then used to produce steam and drive a turbine to generate electricity. However, SMRs use smaller fuel rods and have a compact design which allows for a smaller physical footprint and potentially reduced construction and operating costs. Additionally, some SMRs have advanced safety features such as passive cooling systems that don't rely on external power. The specific design and operating details of a SMR depend on the technology being used.


source:(GE Hitachi Nuclear Energy)

#GE_Hitachi #Nuclearenergy #SMR #NorthAmerica


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