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Investing.com -- New York plans to build a large nuclear-power facility, marking one of the first major new U.S. nuclear plants in over 15 years, according to The Wall Street Journal.
Governor Kathy Hochul has directed the New York Power Authority to add at least 1 gigawatt of new nuclear-power generation to its existing fleet of reactors. This amount of power can supply electricity to approximately one million homes.
"I’m going to lean into making sure that every company that wants to come to New York and everyone who wants to live here will never have to worry about reliability and affordability when it comes to their utility costs," Hochul said in an interview with WSJ.
The New York Power Authority, established nearly a century ago by then-Governor Franklin D. Roosevelt to manage public hydropower production, will be responsible for finding a site in upstate New York and determining the reactor design. According to Hochul, the utility may undertake the project independently or form partnerships with private entities.
This initiative could potentially revitalize U.S. nuclear-reactor construction. The nuclear industry has faced challenges for more than three decades, struggling to expand beyond managing existing plants due to safety concerns, substantial cost overruns, and slow permitting processes.
The New York project will also serve as a major test of President Trump’s commitment to speed up permitting for such projects.
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