The Tennessee Valley Authority Board of Directors Thursday morning gathered in Knoxville, approving action toward nuclear investment, clean technology and the construction of additional generation.
Specifically:
— More than $350 million was allotted for the development of small modular nuclear reactors near its Clinch River site in Oak Ridge, Tennessee.
— A commitment was made for 10,000 megawatts of solar generation by 2035.
— And the Fiscal Year 2025 budget was ratified, one including a 5.25% rate increase to support sustained growth and the ongoing construction of 3,500 megawatts of new electric generation.
Initially, $200 million was earmarked for nuclear advancements in February 2022. With that promise increased nearly 100%, TVA President and CEO Jeff Lyash said this further investment only bolsters TVA’s promise for a carbon-free, efficient source of energy for the region’s growing population and economy…