Key Impact Points:
- Innovative Energy Solutions: Dominion Energy and Amazon are exploring Small Modular Reactors (SMRs) to meet growing electricity demand with carbon-free power.
- Energy Demand Surge: Virginia’s power demand is growing by over 5% annually, expected to double in the next 15 years, driving the need for new energy sources.
- Focus on Risk Mitigation: The partnership seeks to explore innovative commercial and financing structures to advance SMRs while minimizing customer costs and development risks.
Dominion Energy Virginia and Amazon have entered into a Memorandum of Understanding (MOU) to explore potential development and financing structures for Small Modular Reactors (SMRs) in Virginia. As the demand for electricity surges—growing more than 5% annually in Virginia and projected to double within 15 years—Dominion Energy is pursuing an ‘all-of-the-above’ approach to energy generation. This includes SMRs, which could become a key source of reliable, carbon-free power.
Dominion Energy’s Role in Sustainable Energy
Dominion Energy’s commitment to developing a mix of energy sources, including offshore wind, solar, and natural gas, aligns with their strategy to meet growing electricity needs. Robert M. Blue, Chair, President, and CEO of Dominion Energy, emphasized the significance of the agreement “This collaboration gives us a potential path to advance SMRs with minimal rate impacts for our residential customers and substantially reduced development risk.”
Amazon’s Commitment to Carbon-Free Energy
For Amazon, advancing carbon-free energy solutions is a critical component of its broader goal to achieve net-zero carbon emissions by 2040. Kevin Miller, Amazon’s Vice President of Global Data Centers, highlighted the potential of SMRs in supporting their energy needs “Nuclear energy is safe, reliable, and can help meet the energy needs of our customers for decades to come.”
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Political Support for Nuclear Innovation
Virginia’s political leaders have also endorsed this collaboration as a step forward in nuclear innovation. Governor Glenn Youngkin and U.S. Senators Mark Warner and Tim Kaine expressed strong support for the partnership, highlighting Virginia’s leadership in energy innovation. Warner remarked “Virginia is already a leader in nuclear energy, which is why I’m thrilled to see Dominion Energy and Amazon partner up to build the next generation of SMRs right here at home.”
Exploring the Future of SMRs
This agreement comes on the heels of Dominion Energy’s Request for Proposals (RFP) from SMR technology companies, marking the beginning of a thorough evaluation process for potentially developing an SMR at North Anna Power Station in Louisa County, Virginia.
As both companies work together to explore SMR technologies, their collaboration is expected to play a pivotal role in advancing clean energy solutions and meeting Virginia’s growing power demands.
This partnership between Dominion Energy and Amazon not only aligns with growing energy demands but also supports broader sustainability and climate goals through innovative energy solutions.
Related Article: Amazon and Google Lead Tech Shift to Nuclear Energy for Net-Zero Goals
