SMR developers prepare to proceed without federal funding

06/3/2013 | SNL Financial (free content)

Several developers of small modular reactors, including NuScale and Westinghouse Electric, are prepared to proceed without Department of Energy funding. "The plan is to certainly find other investors now. We are working on that plan now," said Michael McGough, NuScale's chief commercial officer. If Westinghouse fails to secure federal financing, "we will step back and assess where things are at and how are we able to move forward," said Warner Baxter, president and CEO of Ameren Missouri, Westinghouse's partner.

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