Dominion Energy Virginia and Amazon announced on October 16, 2024, a Memorandum of Understanding (MOU) to explore the advancement of Small Modular Reactor (SMR) nuclear development in Virginia. This collaboration aims to address the rapidly growing power demand in the state, which is projected to double in the next 15 years.
Amazon's Vice President of Global Data Centers, Kevin Miller, emphasized that nuclear energy is safe, reliable, and crucial for meeting the energy needs of their customers for decades. This partnership highlights the increasing interest from major technology firms in nuclear power to support their energy-intensive operations, particularly AI data centers.
While this specific MOU is between Dominion Energy and Amazon, and Amazon also invested in X-energy, the broader trend of hyperscalers turning to SMRs is a significant positive for NuScale Power. It validates the market for NuScale's certified SMR technology and signals potential future opportunities as more tech companies seek reliable, carbon-free power solutions.
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