NuScale Power has submitted its proposal to participate in a US Department of Energy (DOE) program to accelerate the deployment of small modular reactors.
Using light water reactor technology, the NuScale reactor is cooled by natural circulation, entirely self-contained and installed underwater and underground to maximize safety.
South Carolina Gas & Electric will lead the formation of a consortium to license and operate the first NuScale plant at the Savannah River Site, as part of the NuHub economic development organization.
NuScale has been engaged in pre-application discussions since 2008.
The company said it is on schedule to allow the first plant to begin commercial operation within the next ten years.
NuScale chief executive officer Paul Lorenzini said, "Our approach offers DOE a plant with innovative new safety features and true scalability, which enable it to achieve a wide range of outputs to meet the power demands of individual utilities."
Fluor Corporation will provide financial backing and technical assistance to NuScale Power.