The Babcock and Wilcox Co. has already invested more than $360 million in a project that could result in a small nuclear reactor in west Oak Ridge, and now the North Carolina company is looking for investors and possibly majority owners.
The mPower small modular reactor, or SMR, program is expected to have a nuclear power plant operating at the former Clinch River Breeder Reactor Site by 2022. Initially, it could have two small reactors, a “twin pack,” and produce 360 megawatts.
On Wednesday, Marshall Cohen, B&W vice president for government affairs and communications, said the company is seeking major corporations who are interested in taking a “strong position,” up to and including ownership, including majority ownership.
“We would reduce our ownership to one that really matches the scope of work going forward,” Cohen said. [Read more…]