NuScale Power, announced yesterday that they have successfully submitted Part II of its Title XVII loan guarantee application to the U.S. Department of Energy (USDOE) under the Department’s Advanced Nuclear Energy Projects Solicitation

This loan guarantee helps to finance projects in the US that employ innovative advanced nuclear energy technologies that avoid, reduce or sequester anthropogenic emission of greenhouse gases.  The program was established under Title XVII of the Energy Policy Act of 2005, and has $12.5 billion in loan guarantee authority for Advanced Nuclear Energy Projects.

“This application is another step in our successful partnership with the Department of Energy,” said John Hopkins, Chairman and CEO of NuScale Power. “With their ongoing support, we are well along the path to bringing this innovative design to market, creating jobs and preserving American leadership in nuclear technology.”

If approved, the NuScale loan guarantee will support construction of the Carbon Free Power Project, the first Small Modular Reactor (SMR) to be built in the United States