- Indiana Michigan Power Rockport Plant site identified as
potential location for a Small Modular Reactor
- Following positive community discussions, Appalachian Power
submits grant application to support permitting process at Joshua
Falls site
COLUMBUS, Ohio, Jan. 17,
2025 /PRNewswire/ -- American Electric Power (Nasdaq:
AEP) is seeking grants from the U.S. Department of Energy (USDOE)
to support the Early Site Permit (ESP) process for two potential
Small Modular Reactor (SMR) sites. Through its Indiana Michigan
Power (I&M) operating company, AEP is announcing that property
at the Rockport Plant in Spencer County,
Indiana, has been identified as a potential SMR site.
Previously AEP, through its Appalachian Power operating company,
had announced it was beginning the ESP process for company-owned
Joshua Falls property in Campbell County,
Virginia.
Through a grant funding partnership with the Tennessee Valley
Authority (TVA) and GE Hitachi Nuclear Energy (GEH), I&M is
seeking $50 million to begin the
early stages of SMR development at the Rockport Plant site. If
awarded funds, I&M will conduct ESP activities, as well as a
Preliminary Safety Analysis Report, which is required for a
potential future Construction Permit, at the site utilizing the GEH
BWRX-300 technology. This includes gathering public input from
community members, collecting detailed site information, and
deployment planning for the use of a GEH BWRX-300 at the site. This
SMR unit is capable of generating 300 megawatts (MW) of
electricity.
"AEP is proud to be an industry leader in bringing the next
generation of nuclear power to our customers," said Bill Fehrman, AEP president and chief executive
officer. "The demand for power is growing at a pace not seen in
decades. Not only is AEP working to bring solutions tailored to the
current power needs of our states, such as new natural gas and fuel
cells, we are also excited about the potential that SMRs have to
meet the growing needs of the future."
SMRs offer tremendous potential to provide safe, reliable and
clean energy 24 hours a day, 365 days a year. The relatively small
footprint allows SMRs to be constructed in areas that were not
previously feasible for nuclear energy generation. SMR sites can
also be scaled to match the energy needs of the state. A single SMR
unit can generate up to 500 MW of clean energy, depending on the
design of the unit.
Both grant applications were submitted under the USDOE's
Generation III+ Small Modular Reactor Program. The program is
offering up to $900 million in
grants.
I&M has applied as a subrecipient under TVA's application,
with GEH as the reactor technology provider. I&M will host a
public open house mid-year. Local and state officials have
expressed their support for the project. Last year, Spencer County officials approved an ordinance
supporting new generation at the Rockport Plant site, including the
use of SMRs.
"We are excited that Indiana Michigan Power is exploring SMR
technology and is looking at its Rockport generation site in
Spencer County as its home," said
Indiana State Representative Steve
Bartels and Indiana State Senator Daryl Schmitt in a joint statement. "An SMR here
would mean hundreds of great jobs for the area, provide local
fiscal support to enhance the quality of life, local services, and
create educational opportunities for our young people to help them
build a career in energy production."
Additionally, in November 2024,
the Indiana Office of Energy Development issued a siting report
performed by Purdue University which
identifies Rockport as a suitable
site.
"The flexibility of our generation portfolio has allowed us to
provide reliable, affordable power to our customers," said
Steve Baker, I&M president and
chief operating officer. "Our fleet includes reliable baseload
generation from coal and the Cook Nuclear Plant, as well as
renewable energy from wind and solar. We're excited that the next
generation of nuclear technology could be a part of I&M's
future."
I&M has safely operated Cook Nuclear Plant in Bridgman, Michigan since 1975. The facility
has reliably powered I&M customers since then and the company
is seeking to extend the operating license for Cook Plant through
2054 for unit 1 and 2057 for unit 2. Additionally, the company is
looking at how to best meet the near-term energy needs of
customers.
Appalachian Power has applied under a separate grant category.
No technology provider has been identified at this time.
Appalachian Power continues to evaluate technology providers to
determine what is commercially viable at the site and aligns with
Virginia's energy needs.
In November 2024, Appalachian
Power announced that it was beginning exploration to see if
the Joshua Falls site was suitable for an SMR. Today, Appalachian
Power submitted a grant proposal requesting $35 million to offset the costs of the work
necessary for the ESP.
In Virginia, Appalachian Power held a public meeting in
December 2024, attended by more than
100 individuals interested in learning more about the project.
Appalachian Power is continuing to keep the community informed as
the project progresses. The company will submit an application to
the Virginia State Corporation Commission this spring requesting
approval pursuant to Virginia Code §
56-585.1:15, which supports the recovery of SMR development
costs.
"Appalachian Power has heard tremendous support for our SMR
proposal, and we're listening to, and working with, those who have
concerns," said Aaron Walker,
Appalachian Power president and chief operating officer. "We are at
the beginning of a long and exciting journey. Our state and local
leaders understand how SMRs can benefit our customers, and we are
grateful for their support."
AEP's commercial use of an SMR is estimated to be at least a
decade away. Permitting and regulatory processes are in place to
ensure safety and reliability of the facilities. SMRs are a
promising future energy resource, but I&M and Appalachian Power
are working with state regulators, stakeholders, and leaders to
meet quickly-growing energy needs and energy policy goals. Several
other SMR projects in the US and Canada are currently engaged in the regulatory
process.
Customers can learn more about the Appalachian Power's SMR at:
appalachianpower.com/smr
More information about SMRs is available at
indianamichiganpower.com/smr, and details about the proposal for
Rockport will be added soon.
About AEP
Our team at American Electric Power (Nasdaq:
AEP) is committed to improving our customers' lives with reliable,
affordable power. We are investing $54
billion from 2025 through 2029 to enhance service for
customers and support the growing energy needs of our communities.
Our nearly 16,000 employees operate and maintain the nation's
largest electric transmission system with 40,000 line miles, along
with more than 225,000 miles of distribution lines to deliver
energy to 5.6 million customers in 11 states. AEP also is one of
the nation's largest electricity producers with approximately
29,000 megawatts of diverse generating capacity. We are focused on
safety and operational excellence, creating value for our
stakeholders and bringing opportunity to our service territory
through economic development and community engagement. Our family
of companies includes AEP Ohio, AEP Texas, Appalachian Power (in
Virginia, West Virginia and
Tennessee), Indiana Michigan
Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power
Company (in Arkansas, Louisiana, east Texas and the Texas
Panhandle). AEP also owns AEP Energy, which provides
innovative competitive energy solutions nationwide. AEP is
headquartered in Columbus, Ohio.
For more information, visit aep.com.
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SOURCE American Electric Power
