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Released February 06, 2020 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--U.S. federally owned corporation Tennessee Valley Authority (TVA) (Knoxville, Tennessee) is on a strong path to lower its carbon emissions by closing coal-fired power plants, strengthening its renewable power base and nuclear projects. The company is on track to lower carbon emissions 70% by 2030 from a 2005 baseline.
In its nuclear program, TVA has performed uprates and is leaving open the possibility of constructing small modular reactors (SMRs). In the company's recent earnings conference call with analysts, TVA Chief Executive Officer Jeff Lyash said, "TVA completed physical work for the Browns Ferry extended power uprate, or EPU, project in fiscal-year 2019, significantly increasing the amount of carbon-free generation capacity at the plant by 465 megawatts (MW). That's enough to power approximately 280,000 homes." The Browns Ferry plant is located in Athens, Tennessee. For more information, see Industrial Info's project reports on the Unit 1 and Unit 2 uprates. Lyash also said TVA was studying the potential for operating license renewals across its entire nuclear fleet. Browns Ferry will soon begin a refueling outage on Unit 3 that is planned to last through March. For more information, see Industrial Info's project report.
While most grassroot nuclear projects in the U.S. have virtually ground to a halt, TVA is keeping open the option of construction of SMRs at its Clinch River site near Oak Ridge, Tennessee. Lyash said, "On December 17, TVA became the first utility in the nation to successfully obtain approval from the Nuclear Regulatory Commission to potentially develop small modular reactors at one of our sites. The 20-year permit, referred to as an Early Site Permit, validates that the Clinch River site ... is suitable for the safe development of an SMR facility." While the project remains in the very early planning stages, it could involve the construction of two to six SMRs using Babcock & Wilcox (NYSE:BW) technology. For more information, see Industrial Info's project report.
TVA also is leveraging its renewables program to reduce emissions. The corporation intends a large solar buildout over the next 20 years and is evaluating end-of-life dates for aging fossil-fuel units as part of its long-term planning. Lyash said, "In 2019, TVA signed four power purchase agreements for 674 MW of solar generation at sites in Tennessee and Alabama. Already in early 2020, TVA signed five additional agreements for 484 MW of solar generation with 50 MW of battery storage. This is expected to come online in 2022."
TVA has a large hydropower network, and part of its energy strategy is to maintain and modernize this fleet. Among the largest of TVA's hydro projects is a maintenance projects of sorts at the Boone Dam in Kingsport, Tennessee. In 2014, a sinkhole was discovered near the base of the dam embankment, indicating potential safety issues. While TVA evaluated several options for a solution to the problem, including constructing a new dam, it finally settled on the installation of a composite seepage barrier. Construction on the barrier began in 2016, and TVA estimates the remediation project will take between five and seven years to complete. For more information, see Industrial Info's project report.
Within TVA's project portfolio is the planned modernization of several hydro facilities. These include the modernization of units 3 and 4 at the Nickajack hydropower station near New Hope, Tennessee. The project entails modernizing the two 24.3-MW generators turbine generators to improve performance by 6 MW and extend their service life. Voith Hydro Incorporated (York, Pennsylvania) is the contractor on the project, which is planned to kick off next quarter and be completed later in the year. For more information, see Industrial Info's project report. Industrial Info is tracking several active TVA hydro modernization projects, with a combined total investment value of $670 million. Click here for a list.
TVA's revenue and net income dropped in the just-passed quarter (TVA's first fiscal 2020 quarter). The company reported $2.6 billion in total operating revenues on 36.7 billion kilowatt-hours of electricity sales. In a press release, TVA said, "Total operating revenues decreased about 5% over the same period of the prior year driven by lower sales. Despite record-setting heat in October and record-setting cold in November, sales of electricity were about 4% lower as total degree days impacted by overall heating and cooling were 9% below the same period in 2019." TVA reported quarterly net income of $192 million, compared with $423 million in the year-prior quarter.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
In its nuclear program, TVA has performed uprates and is leaving open the possibility of constructing small modular reactors (SMRs). In the company's recent earnings conference call with analysts, TVA Chief Executive Officer Jeff Lyash said, "TVA completed physical work for the Browns Ferry extended power uprate, or EPU, project in fiscal-year 2019, significantly increasing the amount of carbon-free generation capacity at the plant by 465 megawatts (MW). That's enough to power approximately 280,000 homes." The Browns Ferry plant is located in Athens, Tennessee. For more information, see Industrial Info's project reports on the Unit 1 and Unit 2 uprates. Lyash also said TVA was studying the potential for operating license renewals across its entire nuclear fleet. Browns Ferry will soon begin a refueling outage on Unit 3 that is planned to last through March. For more information, see Industrial Info's project report.
While most grassroot nuclear projects in the U.S. have virtually ground to a halt, TVA is keeping open the option of construction of SMRs at its Clinch River site near Oak Ridge, Tennessee. Lyash said, "On December 17, TVA became the first utility in the nation to successfully obtain approval from the Nuclear Regulatory Commission to potentially develop small modular reactors at one of our sites. The 20-year permit, referred to as an Early Site Permit, validates that the Clinch River site ... is suitable for the safe development of an SMR facility." While the project remains in the very early planning stages, it could involve the construction of two to six SMRs using Babcock & Wilcox (NYSE:BW) technology. For more information, see Industrial Info's project report.
TVA also is leveraging its renewables program to reduce emissions. The corporation intends a large solar buildout over the next 20 years and is evaluating end-of-life dates for aging fossil-fuel units as part of its long-term planning. Lyash said, "In 2019, TVA signed four power purchase agreements for 674 MW of solar generation at sites in Tennessee and Alabama. Already in early 2020, TVA signed five additional agreements for 484 MW of solar generation with 50 MW of battery storage. This is expected to come online in 2022."
TVA has a large hydropower network, and part of its energy strategy is to maintain and modernize this fleet. Among the largest of TVA's hydro projects is a maintenance projects of sorts at the Boone Dam in Kingsport, Tennessee. In 2014, a sinkhole was discovered near the base of the dam embankment, indicating potential safety issues. While TVA evaluated several options for a solution to the problem, including constructing a new dam, it finally settled on the installation of a composite seepage barrier. Construction on the barrier began in 2016, and TVA estimates the remediation project will take between five and seven years to complete. For more information, see Industrial Info's project report.
Within TVA's project portfolio is the planned modernization of several hydro facilities. These include the modernization of units 3 and 4 at the Nickajack hydropower station near New Hope, Tennessee. The project entails modernizing the two 24.3-MW generators turbine generators to improve performance by 6 MW and extend their service life. Voith Hydro Incorporated (York, Pennsylvania) is the contractor on the project, which is planned to kick off next quarter and be completed later in the year. For more information, see Industrial Info's project report. Industrial Info is tracking several active TVA hydro modernization projects, with a combined total investment value of $670 million. Click here for a list.
TVA's revenue and net income dropped in the just-passed quarter (TVA's first fiscal 2020 quarter). The company reported $2.6 billion in total operating revenues on 36.7 billion kilowatt-hours of electricity sales. In a press release, TVA said, "Total operating revenues decreased about 5% over the same period of the prior year driven by lower sales. Despite record-setting heat in October and record-setting cold in November, sales of electricity were about 4% lower as total degree days impacted by overall heating and cooling were 9% below the same period in 2019." TVA reported quarterly net income of $192 million, compared with $423 million in the year-prior quarter.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
