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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

Nine Mile Point Sold in Billion-dollar Deal

LCG, Dec. 12, 2000--Constellation Energy Group and Niagara Mohawk Power Corp. said separately this morning that Constellation will purchase Unit 1 and 82 percent of Unit 2 of the Nine Mile Point nuclear power plant in a deal valued at about $1.04 billion.

Niagara Mohawk said the sellers will realize $815 million in cash, $134 million in interest and $88 million in decommissioning savings.

Constellation will get 82 percent of the 1,148 megawatt Nine Mile Point Unit 2 from its owners, Niagara Mohawk, New York State Electric & Gas Co., Rochester Gas & Electric Co. and Central Hudson Gas & Electric Corp. The Long Island Power Authority, an 18 percent owner of Nine Mile 2, elected to hang onto its share of the unit.

Niagara Mohawk is the sole owner of the 609 megawatt Nine Mile Point Unit 1.

The terms of the deal include power purchase agreements under which Constellation will sell 90 percent of the output of the two reactors back to the sellers for about 10 years at an average price of around $35 per megawatt-hour.

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