DOE To Fund Half Of B&W Small Nuclear Plant Project

Law360, New York (November 21, 2012, 3:45 PM EST) -- The U.S. Department of Energy on Tuesday agreed to fund up to half of a Babcock & Wilcox project to build a new type of compact nuclear power plant, in an agency program aimed at making the facilities commercially viable.

The DOE said it would enter into a five-year cost-sharing agreement to help B&W design, license and bring to market small modular reactors, investing as much as half the total project cost.

The agency is issuing the award under its Small Modular Reactor Licensing and Technical...
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