Texas House bill would create state nuclear office, funding program
Legislation the Texas House of Representatives passed on a bipartisan basis on Tuesday could position the Lone Star State as a national leader on advanced nuclear energy, industry advocates said Wednesday.
House Bill 14 would establish a state office to promote advanced nuclear supply chain and power generation projects in Texas and create a fund to provide grants of up to $200 million for eligible nuclear construction projects.
The bill heads to the Texas Senate with about six weeks to go in the 2025 regular legislative session.
The Electric Reliability Council of Texas added 43 GW to its five-year load growth forecast last year, or more than one-third of an expected 128 GW of U.S. load growth through 2029, Grid Strategies said in December.
New data centers (18 GW), cryptocurrency mines (6 GW), hydrogen production (5.8 GW), other industrial facilities (5.7 GW) and oil and gas facilities (2.8 GW) will drive the bulk of the expected load growth through 2029, ERCOT said earlier this month in an updated forecast. On Thursday, the Public Utilities Commission of Texas approved three 765-kV transmission lines — the state's first — to reduce congestion in the rapidly-electrifying Permian Basin oil patch.
'As Texas considers its energy future, the time has come to invest in nuclear power — an energy source capable of ensuring grid reliability, economic opportunity, and energy and national security,' Texas Nuclear Association President Reed Clay said in a statement Wednesday.
Advanced nuclear firms have already proposed or begun developing projects in Texas.
The farthest along is Natura Resources' 1-MW, molten salt-cooled thermal research reactor under construction since late last year at Abilene Christian University. In February, Texas A&M University invited Aalo Atomics, Kairos Power, Natura and Terrestrial Energy to build reactors on its RELLIS campus near College Station, according to the American Nuclear Society. Natura subsequently announced plans to build two 100-MWe reactors in College Station and the Permian Basin.
Also in February, Last Energy said it would deploy up to 600 MW of microreactor capacity to serve data center customers in ERCOT.
And in March, Dow Chemical and advanced nuclear developer X-energy submitted a construction permit application to the U.S. Nuclear Regulatory Commission, advancing plans for a four-reactor, 320-MWe power plant to replace existing fossil-fired generation at Dow's Seadrift, Texas petrochemical plant. That project awaits a final investment decision by Dow, the companies said last month.
H.B. 14 would authorize a grantmaking account, known as the Texas Advanced Nuclear Development Fund, that could help get larger projects like Seadrift off the ground. The fund would reimburse expenses directly related to advanced nuclear reactor construction, including license application costs and procurement of long-lead equipment, up to the lesser of $200 million or 50% of the expense. It would also reimburse a range of expenses for initial project and supply chain development, such as site planning, front-end engineering and fuel fabrication, up to the lesser of 50% or $12.5 million.
H.B. 14 also establishes the Texas Advanced Nuclear Energy Office within the Texas governor's office to set statewide nuclear strategy, develop a homegrown advanced nuclear supply chain, attract advanced nuclear developers to Texas and facilitate nuclear project permitting through a newly-created 'nuclear permitting coordinator' position, among other responsibilities.
The nuclear development fund, nuclear energy office and nuclear permitting coordinator affirm recommendations made in November by the Texas Advanced Nuclear Reactor Working Group, overseen by the PUC.
Though Gov. Greg Abbott, R, has not yet commented publicly on H.B. 14, he has consistently championed the state's nuclear industry, saying in November that 'we are ready to be No. 1 in advanced nuclear power.'
Recommended Reading
Texas report recommends low-interest loans for advanced nuclear, similar to gas plant fund
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Associated Press
6 days ago
- Associated Press
Westinghouse Joins the Texas Nuclear Alliance as a Founding Member
Austin, TX August 12, 2025 --( )-- The Texas Nuclear Alliance (TNA) proudly welcomes Westinghouse Electric Company, a global leader of advanced nuclear technologies, as a Founding Member. Westinghouse innovations cover the complete nuclear lifecycle, from proven reactor technologies for power plants and next-generation reactor designs to nuclear fuel products and plant operation services and solutions. 'Westinghouse has unmatched nuclear expertise, providing the technology that is used to run nearly half of the world's operating nuclear plants, including the four commercially operating reactors at South Texas Project and Comanche Peak here in Texas,' said TNA President Reed Clay. 'TNA is proud to partner with Westinghouse to ensure safe and reliable nuclear energy continues to power future generations here in Texas.' 'TNA is providing bold leadership to bring the benefits of reliable, abundant and clean nuclear energy to Texans,' said Dan Sumner, Interim Chief Executive Officer, Westinghouse. 'As a company that has been a part of the Texas nuclear ecosystem for decades, Westinghouse stands ready to help the state explore new opportunities – whether it is proven grid-scale technologies like our AP1000® reactor, our AP300™ small modular reactor (SMR) or flexible next-generation innovations like our eVinci® microreactor.' The fully licensed and construction-ready advanced AP1000® reactor is the only operating Generation III+ reactor with fully passive safety systems, modular construction and the smallest footprint per MWe on the market. There are six AP1000 reactors currently setting operational performance and availability records worldwide with twelve additional reactors under construction and six more under contract. Based on proven AP1000 technology, the AP300 SMR is the world's most advanced and deployable SMR solution. Unlike every other SMR under development with first-of-a-kind technologies, the AP300 SMR uses AP1000 engineering, components and supply chain to reduce deployment risks. The eVinci microreactor builds on decades of industry-leading Westinghouse innovation to bring resilient, secure and scalable energy wherever it is needed. The eVinci microreactor has few moving parts, working essentially as a battery, providing the versatility for power systems ranging from several kilowatts to 5 megawatts of electricity, delivered 24 hours a day, 7 days a week for eight-plus years without refueling. About Westinghouse Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear and other clean power technologies and services globally. Westinghouse supplied the world's first commercial pressurized water reactor in 1957 and the company's technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit About the Texas Nuclear Alliance TNA is the only industry association in Texas dedicated to the advancement of nuclear technology in the state. TNA was formed with a singular mission: to make Texas the Nuclear Capital of the World. Formed in 2022 in the aftermath of Winter Storm Uri, TNA is based on the fundamental premise that if Texas and the world want low-carbon, reliable energy, it can no longer turn its back on nuclear energy. Nuclear is clean, safe, reliable, and secure. Contact Information: Texas Nuclear Alliance Lauren Clay 512-567-7604 Contact via Email Westinghouse Paul Erwin [email protected] Read the full story here: Westinghouse Joins the Texas Nuclear Alliance as a Founding Member Press Release Distributed by
Yahoo
11-08-2025
- Yahoo
Brazil cosmetic maker Natura swings to profit in Q2
SAO PAULO (Reuters) -Brazilian cosmetic maker Natura posted on Monday a second-quarter net profit of 195 million reais ($35.8 million), reversing a 859 million real net loss from the same period last year. Core earnings, as measured by recurring earnings before interest, taxes, depreciation and amortization (EBITDA), stood at 795.6 million reais, up 4.5% year-on-year. In the earnings report, the company said it reclassified Avon International and Avon CARD as assets kept for sale. ($1 = 5.4421 reais)
Yahoo
07-08-2025
- Yahoo
Greenalia Secures $50 Million Upsizing on Existing 3-Year Credit Facilities from IMM Investment and NH Investment & Securities
NEW YORK, Aug. 7, 2025 /PRNewswire/ -- Greenalia S.A. (the "Company" or "Greenalia"), a leading Spanish developer of renewable power projects, has closed on a $50 million upsizing of its existing three-year credit facilities from IMM Investment Hong Kong ("IMM") and NH Investment & Securities ("NH") to support the development of its solar and wind project pipeline in the U.S. Greenalia Power US Advanced II, LLC ("Greenalia US" or the "Borrower") is a subsidiary of Greenalia that acquires, develops, constructs and operates utility-scale solar, wind and energy storage projects in the U.S. IMM and NH are investors headquartered in South Korea; their commitments reinforce both the strong institutional and international interest in Greenalia's U.S. portfolio. PEI Global Partners served as Financial Advisor to the Company. Holland & Knight acted as Borrower's Counsel. Norton Rose Fulbright acted as Lenders' Counsel. Nomura Securities International, Inc. continues to serve as Lead Arranger for the facilities and Nomura Corporate Funding Americas, LLC continues to serve as Administrative Agent for the facilities. The upsizing reflects continued confidence in Greenalia's strategy and the strength of its U.S. pipeline. The proceeds from the upsizing will be used to support Greenalia's ~1.9 GWDC ERCOT portfolio, particularly by financing project equipment, providing support for project letters of credit and funding other development and construction expenses. Moreover, the upsizing builds on recent positive developments around Greenalia's first asset, the 430 MWDC Misae II solar project, for which Greenalia recently secured ~$388 million of senior project financing from MUFG and Nomura. "We are excited to partner with Greenalia to accelerate the global expansion of this leading renewable energy development platform," commented Youngjoon Lee, CEO and Managing Partner of IMM HK. "This investment underscores our commitment to channeling innovative capital into critical enablers of energy transition." About Greenalia S.A. is a global renewable focused IPP and the parent company of Greenalia Power US Advanced II, LLC. The company uses wind, sun, and forestry biomass from certified plantations' remains to generate and store energy in harmony with nature, providing employment and innovation across Europe and the United States. The company's main activity is the generation of renewable energy, being present in six technologies: onshore wind, offshore wind, solar, biomass, storage and hydrogen. About PEI PEI Global Partners Holdings LLC ("PEI") is an independent, closely held investment bank specializing in the power, energy, and infrastructure sectors, with offices in New York City and Tampa. PEI advises financial sponsors, developers and corporate clients on mergers and acquisitions, divestitures, financings, private placements, and other strategic transactions. PEI conducts securities transactions through its wholly owned broker-dealer subsidiary PEI Global Partners LLC, which is regulated by the Financial Industry Regulatory Authority ("FINRA"), the Securities and Exchange Commission ("SEC"), the New York State Department of Financial Services and the Florida Office of Financial Regulation. For more information on PEI, please visit About Nomura Nomura is a global financial services group with an integrated network spanning over 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Investment Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit About IMM Investment Hong KongIMM Investment Hong Kong is the overseas investment arm of IMM Investment Corp., a leading Korean alternative investment manager founded in 1999 with a diversified portfolio across infrastructure, growth equity, and innovation-driven investments. Since 2019, the Hong Kong office has been successfully implementing the group's sector-agnostic global investment strategy across North America, Europe, Asia, and MENA with a focus on high-growth opportunities and clean energy transition investments. For more information, visit About NH Investment & SecuritiesNH Investment & Securities is one of South Korea's largest financial services firms, offering a full suite of investment banking, wealth management, and brokerage solutions. As a core subsidiary of NongHyup Financial Group, NH focuses on delivering innovative financing, capital markets, and advisory services to a global client base. With offices across Asia, Europe, and North America, NH leverages deep market insights and a strong domestic footprint to connect global capital with Korean and international investment opportunities. For more information, visit View original content to download multimedia: SOURCE Greenalia Sign in to access your portfolio
