Amazon inks agreements with Dominion Energy, Energy Northwest, X-energy to advance nuclear

Dominion Energy, Energy Northwest, and X-energy Reactor Company LLC signed three new individual agreements with Amazon to support the development of nuclear energy projects, including enabling the construction of several new small modular reactors (SMRs).

“One of the fastest ways to address climate change is by transitioning our society to carbon-free energy sources, and nuclear energy is both carbon-free and able to scale — which is why it’s an important area of investment for Amazon,” said Matt Garman, CEO of Amazon Web Services. “Our agreements will encourage the construction of new nuclear technologies that will generate energy for decades to come.”

SMRs are an advanced kind of nuclear reactor with a smaller physical footprint, allowing them to be built closer to the grid. They also have faster build times than traditional reactors, allowing them to come online sooner, according to Amazon.

In Washington, the agreement between Energy Northwest, a consortium of state public utilities, and Amazon will enable the development of four advanced SMRs. The reactors will be constructed, owned, and operated by Energy Northwest, and are expected to generate roughly 320 megawatts (MW) of capacity for the first phase of the project, with the option to increase to 960 MW total — enough to power the equivalent of more than 770,000 U.S. homes.

The projects will help meet the forecasted energy needs of the Pacific Northwest beginning in the early 2030s, according to Amazon.

“We are excited about this collaboration with Amazon and are impressed with their vision for helping develop new nuclear technologies and their desire to also make this resource available to utilities in the future,” said Greg Cullen, vice president for Energy Services & Development at Energy Northwest.

Cullen said Energy Northwest has been working for years to develop this project at the urging of its members.

“Taking this first, bold step is difficult for utilities, especially those that provide electricity to ratepayers at the cost of production,” he said. “We applaud Amazon for being willing to use their financial strength, need for power and know-how to lead the way to a reliable, carbon-free power future for the region.”

Through the agreement, Amazon will fund the initial feasibility phase of an SMR project, which is planned to be sited near Energy Northwest’s Columbia Generating Station nuclear energy facility in Richland, Wash.

“We’re proud to be working with Energy Northwest, a utility company that’s also thinking big about meeting society’s growing energy demands while addressing climate change,” said Kevin Miller, Amazon’s vice president of global data centers.

X-energy, a leading developer of next-generation SMR reactors and fuel, Oct. 16 announced a Series C-1 financing round of approximately $500 million anchored by Amazon that will help it meet growing energy demands by funding the completion of its reactor design and licensing, as well as the first phase of its fuel fabrication facility in Oak Ridge, Tenn.

Additionally, the funding will support future carbon-free projects that will use X-energy’s advanced SMRs. X-energy’s advanced nuclear reactor design will also be used in the Energy Northwest project.

“Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace,” said X-energy CEO J. Clay Sell. “To fully realize the opportunities available through artificial intelligence, we must bring clean, safe, and reliable electrons onto the grid with proven technologies that can scale and grow with demand.”

Amazon and X-energy are also collaborating to bring more than 5 gigawatts (GW) of new power projects online across the United States by 2039, representing the largest commercial deployment target of SMRs to date, the companies said.

X-energy and Amazon also plan to establish and standardize a deployment and financing model to develop projects in partnership with infrastructure and utility partners.

“This collaboration between Amazon and X-energy is a significant step toward accelerating advanced nuclear technologies that can help us bring new sources of carbon-free energy to the grid cost-effectively and safely,” said Miller. “We need smart solutions that can help us meet growing energy demands while also addressing climate change. X-energy’s technology will be integral in helping achieve this.”

In Virginia, Dominion Energy signed an agreement with Amazon to explore the development of an SMR project near Dominion’s existing North Anna nuclear power station that would bring at least 300 MW of power to the region, where Dominion projects that power demands will increase by 85 percent over the next 15 years.

According to the MOU between Dominion Energy Virginia and Amazon, they will jointly explore new ways to advance SMR development and financing, while also mitigating potential cost and development risks for customers and capital providers.

“This agreement builds on our longstanding partnership with Amazon and other leading tech companies to accelerate the development of carbon-free power generation in Virginia,” said Robert Blue, chair, president, and CEO of Dominion Energy. “It’s an important step forward in serving our customers’ growing needs with reliable, affordable and increasingly clean energy.

“This collaboration gives us a potential path to advance SMRs with minimal rate impacts for our residential customers and substantially reduced development risk,” Blue said.

Virginia Gov. Glenn Youngkin said the MOU is in alignment with the state’s all-of-the-above energy plan, and SMRs will play a critical role in positioning Virginia as a leading nuclear innovation hub.

“Amazon Web Services’ commitment to this technology and their partnership with Dominion is a significant step forward to meet the future power needs of a growing Virginia,” he said.

The post Amazon inks agreements with Dominion Energy, Energy Northwest, X-energy to advance nuclear appeared first on Daily Energy Insider .