The resurgence of nuclear power has garnered attention from both Democrats and Republicans, indicating a rare point of agreement between the two parties. Hochul sees this nuclear revival as a crucial development for the country’s outdated nuclear infrastructure.
Hochul emphasized that the project’s success hinges on navigating regulatory and planning hurdles at the federal level, acknowledging that past nuclear projects have faced significant delays and cost overruns. She identified Washington as a significant obstacle in the path forward.
In a surprising announcement on Monday, the governor of New York, Kathy Hochul, unveiled plans for a new, massive nuclear power station in the state that is expected to generate at least 1 gigawatt of electricity.
Leading the initiative, Governor Hochul has tasked the New York Power Authority (NYPA) – known for managing a substantial portfolio of power plants, mainly consisting of dams and gas turbines – with moving forward on the construction of the new power plant. The plans are still in the early stages, with NYPA yet to finalize a location or design.
Governor Hochul divulged that the state will collaborate with private companies to build the power plant, providing funding for construction and ensuring priority access to the electricity generated.
Joining the ranks, Microsoft and Meta have partnered with Constellation: Microsoft is investing $1.8 billion in reviving a reactor at Three Mile Island in Pennsylvania, while Meta is seizing the green energy benefits of the Clinton Clean Energy Center in Illinois in a deal rumored to be worth billions. Additionally, Amazon has recently struck a deal with Talen Energy to acquire nearly 2 gigawatts of nuclear power in Pennsylvania.
“We would be remiss not to seize this opportunity while it is within reach,” noted Hochul.
Rumors suggest that potential locations for the new power station include three existing nuclear plants in upstate New York owned by Constellation Energy. This move is part of the firm’s strategy to attract the interest of tech giants and secure partnerships for its nuclear output.
Despite challenges, the future of the nuclear industry remains uncertain. The U.S. has not seen the construction of a new nuclear power plant in over 15 years, with the last projects exceeding their original budgets and timelines. Small modular reactors have now emerged as a promising solution, garnering interest from startups aiming to streamline production processes. However, doubts linger about the commercial viability of this technology until it proves its capabilities through successful deployment.
“Nuclear energy cannot be dismissed outright; abandoning it would only lead to increased reliance on polluting fossil fuels,” Hochul asserted during a media briefing. “That is not an acceptable path forward for New York.”
