Dominion Energy is engaging in discussions with various technology companies about the development of small modular nuclear reactors, following a recent agreement with Amazon aimed at advancing this next-generation technology.
During the company’s third-quarter earnings call on Friday, Dominion CEO Robert Blue expressed optimism about the collaboration, stating, “It’s very encouraging to see large power users, including technology companies, express a willingness to invest, partner and collaborate to bring this exciting base load carbon-free technology into fruition.”
Dominion and Amazon have established a memorandum of understanding to investigate the feasibility of developing a small modular reactor at the utility’s North Anna nuclear station in Louisa County, Virginia. This reactor is expected to generate 300 megawatts of power, contributing significantly to the state’s energy supply.
Virginia is recognized as one of the most supportive states for nuclear energy, enjoying robust bipartisan backing for initiatives focused on next-generation nuclear technologies. Blue noted that the utility’s reputation as a reliable nuclear operator makes it an attractive partner for large customers interested in collaborating on these innovations.
In addition to Amazon, Dominion is in talks with other tech firms, reflecting a growing trend among technology companies to invest in nuclear power. These companies are seeking carbon-free, dependable electricity to meet the rising energy demands of their AI-driven data centers. Notably, Dominion serves the largest data center market in the world, located in northern Virginia.
Earlier this year, Amazon made headlines by acquiring a data center campus from Talen Energy, which will be powered by the Susquehanna nuclear plant in Pennsylvania. Additionally, Microsoft has secured a power purchase agreement from Three Mile Island, as Constellation Energy plans to restart the plant by 2028. In a similar vein, Alphabet’s Google recently agreed to purchase power from Kairos Power, a startup focused on small modular reactor development.
Small modular reactors are touted for their potential to lower capital costs and expedite the construction of nuclear facilities. Their compact design allows for easier site selection, and they promise a streamlined manufacturing process. However, the technology has faced challenges in reaching commercial viability, with no operational small modular reactor currently in the United States.