(WASHINGTON, DC) – Energy Secretary Rick Perry announced $60
million in federal funds on Friday as the first step in an effort to helping
financially ailing nuclear plants, while advancing new technologies.
Important step: “Making these new investments is an
important step to reviving and revitalizing nuclear energy, and ensuring that
our nation continues to benefit from this clean, reliable, resilient source of
electricity,” Perry said.
The big 13: The Energy Department selected 13 projects to
receive about $60 million in federal funding for cost-shared research and
development for advanced nuclear technologies, the agency said.
The funding selections are the first under a new quarterly
application review and selection process. Perry intends to use up to $40
million of fiscal 2018 funding in the next two quarterly award cycles for
innovative proposals.
Back to baseload: “Supporting existing as well as advanced
reactor development will pave the way to a safer, more efficient, and clean
baseload energy that supports the U.S. economy and energy independence,” he
said. Baseload plants provide power around the clock.
What about First Energy? The funds were announced amid the
utility First Energy’s appeal to Perry to issue an emergency order to help its
ailing nuclear power and coal plants, three of which are slated to close.
Moody’s says all is well: Credit-rating giant Moody’s said
Thursday that First Energy has enough flexibility to weather the closures and will
emerge from its deal with its lenders a credit positive company.
