Puget Sound Energy invests $10M into new Energy Northwest nuclear project
Under a new agreement between Puget Sound Energy and Energy Northwest, the latter will receive $10 million for the feasibility phase of a new nuclear project.
“Energy Northwest is committed to developing clean energy resources capable of helping Washington state meet its climate and carbon reduction goals,” Bob Schuetz, Energy Northwest CEO, said. “As we de-carbonize the electric grid, it is increasingly evident new sources of carbon-free, reliable, and affordable electricity must be deployed – and advanced nuclear energy technology can play a vital role in this transition. Energy Northwest’s partnership with Puget Sound Energy underscores our shared commitment to address the climate challenge and meet the region’s future clean energy needs with the help of new and innovative carbon-free nuclear energy technologies.”
The program at the heart of this is pushing to clarify the potential behind development and deployment of a new nuclear energy facility. Currently, the Columbia Generating Station is the northwest’s only commercial nuclear power plant. As such, Energy Northwest hopes that a new facility could help meet the state’s climate goals without tripping up reliability and affordability considerations.
“Our clean energy future depends on finding reliable resources that produce energy when customers need it without emitting greenhouse gases,” Mary Kipp, president and CEO of Puget Sound Energy, said. “Advanced nuclear technology has the potential to be that resource. I’m excited to partner with Energy Northwest as part of our efforts to identify and secure reliable, cost-effective clean energy for our 1.2 million electric customers in the state of Washington.”
The new financial commitment bolstered another approximately $10 million earlier invested by Energy Northwest and other entities, during investigations of numerous emerging nuclear technologies. Ultimately, Energy Northwest has settled on X-energy’s advanced small modular reactor, the Xe-100, as the style best suited to the region’s needs. The company is, however, still analyzing that system’s project structures, schedules and overall viability.
Washington state policies demand a significant increase in cleaner electricity over the coming years.
