APPALACHIAN POWER EXPLORES SMALL MODULAR REACTORS TO MEET FUTURE ENERGY DEMAND IN VIRGINIA

ROANOKE, Va., Nov. 14, 2024 /PRNewswire/ -- In a major step toward securing Virginia's reliable energy future, Appalachian Power announces plans to bring Small Modular Reactors (SMRs) to Virginia. Appalachian Power representatives identified a potential site for an SMR project on company-owned Joshua Falls property in Campbell County, Virginia, and plan to begin the Early Site Permit Application process. This site provides access to existing electrical infrastructure that is necessary for a generation project. The site includes a 765 kilovolt substation and nearby roadways can support moving the necessary equipment onsite.

This is a significant milestone in the company's efforts to provide reliable and clean energy to its customers. SMR technology offers tremendous potential to provide safe, reliable and clean energy 24 hours a day, 365 days a year. The relatively small footprint allows SMRs to be constructed in areas that were not previously feasible for nuclear energy generation. SMR sites can also be scaled to match the energy needs of the state. A single SMR can generate up to 500 megawatts (MW) of clean energy.

"SMR technology is a key component to providing perfect power to our customers. Appalachian Power and AEP are committed to working with our states to develop energy solutions that align with state policy goals and reliably serve our customers," said Bill Fehrman, AEP president and chief executive officer.

"Advanced nuclear power is at the heart of Virginia's All-American, All-of-the Above Energy Plan; a plan that prioritizes abundant, reliable, affordable, and increasingly clean power to fuel our thriving and growing economy. I am grateful that Appalachian Power is taking this next step to support Virginia's nuclear future," said Governor Glenn Youngkin.

"Appalachian Power is committed to generating clean, always-on power to meet Virginia's future demand. We are grateful to the Virginia General Assembly and Governor Youngkin for embracing SMR technology – this announcement would not have been possible without their forward-thinking support," said Aaron Walker, Appalachian Power president and chief operating officer.

The company plans to file an application with the Virginia State Corporation Commission in spring 2025. In addition, Appalachian Power plans to apply for part of the U.S. Department of Energy's $900 million grant program to accelerate the deployment of SMRs and help reduce customer costs.

Appalachian Power will work closely with the U.S. Nuclear Regulatory Commission, state and local agencies and other stakeholders to educate the community about the benefits of SMRs while gathering feedback.

A community open house will be hosted on Thursday, December 5, 2024, from 5 - 7 p.m. at the Lynchburg Regional Business Alliance where experts and company representatives will be available to answer questions about the project. There is no formal presentation, so attendees may come and go any time during the 2-hour event to talk to project representatives and learn about the future of SMRs.

Residents who cannot attend the open house or want to learn more in advance of the public meeting can visit the project website at AppalachianPower.com/SMR.

Appalachian Power has 1.1 million customers in Virginia, West Virginia and Tennessee (as AEP Appalachian Power). It is part of American Electric Power, a team committed to improving our customers' lives with reliable, affordable power. AEP is investing $54 billion from 2025 through 2029 to enhance service for customers and support the growing energy needs of our communities. Our nearly 16,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 225,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 29,000 megawatts of diverse generating capacity, including 2.3 gigawatts of nuclear. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement.

SOURCE Appalachian Power