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Energy Vault and Jupiter Power Announce New Agreement for Battery Energy Storage System in Texas

LCG, June 4, 2025--Energy Vault Holdings Inc. (Energy Vault) and Jupiter Power (Jupiter) today announced the signing of an agreement for the supply of an additional battery energy storage system (BESS) at a Jupiter site in the Electric Reliability Council of Texas (ERCOT) region. The initial BESS project, located near Fort Stockton, Texas, was completed in July 2024, with a storage capacity 100 MW/200 MWh. The new BESS project will add another 100 MW/200 MWh of capacity. Construction has commenced, and the project is expected to achieve commercial operations by the end of this summer.

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NuScale Power Achieves Standard Design Approval from NRC for 77 MW SMR

LCG, May 30, 2025--NuScale Power Corporation (NuScale), a leading provider of advanced small modular reactor (SMR) nuclear technology, yesterday announced that it has received design approval from the U.S. Nuclear Regulatory Commission (NRC) for its uprated 77 MW power modules. NuScale states that it remains the only SMR technology company with design approval from the NRC, and the company remains on track for deployment by 2030, with 50- and 77-MW SMR options.

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Industry News

Dominion Resources to Pay $1.3 Billion for Millstone

LCG, Aug. 8, 2000--Dominion Resources Inc. said this morning that it had agreed to pay Northeast Utilities $1.3 billion for the Millstone nuclear power plant complex in Connecticut. The purchase price includes about $105 million for nuclear fuel.

The three-unit Millstone facility was in considerable trouble as recently as the summer of 1997 because of misguided cost-cutting measures, but with new Northeast management under chief executive Michael G. Morris and chief nuclear officer Bruce D. Kenyon, the smallest of the units was permanently retired and the other two units were brought back into service, providing about 2,000 megawatts of much-needed capacity to New England.

Northeast, now in the process of merging with Consolidated Edison Co. of New York, announced several months ago that it would sell Millstone in order to comply with deregulation-related generation divestiture requirements. The company has also sold its fossil-fueled power plants.

The purchase, which Dominion hopes to close by April of next year, will add about 10 percent to Dominions overall generation capacity and will improve its market share in New England.

Thomas E. Capps, Dominions chief executive, said "This acquisition supports our broader corporate strategy to become a major energy provider of choice in the Northeast, Midwest and Mid-Atlantic regions, home to 40 percent of the nation's demand for energy. By adding Millstone to our diverse portfolio of generating assets, we're positioned to increase our market share in New England significantly."

Morris said "We are extremely pleased that our Millstone nuclear units are being sold to an outstanding company committed to operating a safe and successful national nuclear organization. The men and women of Millstone have been working very hard to fulfill their commitment to become among the best in the nuclear industry. Dominion's purchase of Millstone is a clear indication that this hard work is valued by a company with one of America's finest operating records."

The transaction require regulatory approvals from the Nuclear Regulatory Commission, the Federal Energy Regulatory Commission, the Federal Trade Commission or the Department of Justice, the Connecticut Department of Public Utility Control and other state public utility commissions where additional owners of minority portions of the station are headquartered.

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