Babcock & Wilcox has announced it wants to sell most of its stake in the Generation mPower small modular reactor project.B&W said it has invested more than $360 million in the project, and earlier it partnered with the Tennessee Valley Authority to potentially build the reactor at its Clinch River site. Last year, the Department of Energy awarded as much as $226 million in matching funds for the mPower's licensing and development.On Wednesday, the company announced it has retained JP Morgan to help secure "additional investment partner(s) who will collectively own the majority equity interest in Generation mPower." While B&W plans to retain the right to manufacture the reactor module and its fuel, it's seeking investors to "fully participate in the mPower SMR licensing and other pre-construction activities."The Charlotte Business Journal reported that B&W wants to reduce its stake in the venture to 20 percent by the middle of next year. Its current share stands at 90 percent, with Bechtel holding the rest.
Anonymous comments will be moderated. Join for free and post now!
I expect that China and Korea nuclear industries might be interested in being partners in mPower.
What about TVA?
