en.Wedoany.com Reported - Holtec International plans to achieve commercial operation of a 1.36 GW small modular reactor (SMR) project at its Oyster Creek nuclear power plant site in New Jersey by 2036, following approval from the U.S. Nuclear Regulatory Commission (NRC) of the site's License Termination Plan (LTP). The approval marks the completion of the final phase of decommissioning at the former boiling water reactor (BWR) site, clearing regulatory hurdles for Holtec to build four SMR-300 units there.
The proposed project consists of four 340 MW units with a total installed capacity of 1,360 MW, more than double the 636 MW generating capacity of the reactor that operated at Oyster Creek for nearly five decades. Holtec disclosed the 2036 timeline in a securities filing submitted on July 10, classifying Oyster Creek as a "development stage" deployment opportunity. The company stated that projects at its former nuclear plant sites remain contingent on state and local government support, financing arrangements, and the identification of equity partners.
New Jersey's regulatory environment has shifted markedly in favor of new nuclear construction. On April 8, 2026, Governor Mikie Sherrill signed Bill S3870/A4528, amending the Coastal Area Facility Review Act. The amendment removes statutory provisions that had effectively prohibited new nuclear construction in the state for the past four decades, allowing the state Department of Environmental Protection to issue permits upon confirmation that radioactive waste can be safely stored on-site, without requiring the existence of a federal permanent repository. Previously, Sherrill issued Executive Order No. 2 in January 2026, establishing a nuclear task force to evaluate pathways for accelerating advanced nuclear deployment.
The SMR-300 is Holtec's proprietary Generation III+ pressurized water reactor (PWR) design, with each unit expected to deliver a net electrical output of 300–340 MWe. According to the company's S-1 filing, Holtec is pursuing a dual-track commercialization strategy: its nuclear power division handles licensing, procurement, construction, and commissioning of SMR-300 plants, while subsidiary Energetics leads project development, covering site selection, financing, power purchase agreements, and equity sales.
Holtec plans to employ two primary business models: a "build-own-operate" model for long-term ownership and power sales, and a "develop-deploy" model in which projects are transferred to utilities or other owners after the early-stage development phase is completed. The company expects that most future deployments will adopt the latter structure.
Holtec's current SMR project portfolio in the U.S. includes the Pioneer 1 and 2 projects at Palisades in Michigan, the four-unit Oyster Creek project in New Jersey, and potential deployments at Pilgrim in Massachusetts, Indian Point in New York, and Big Rock Point in Michigan. Among these, the Palisades restart project is the most advanced in terms of SMR-300 proposals, targeting commercial operation in the early 2030s, subject to financing and regulatory approvals. The U.S. Department of Energy (DOE) has selected Pioneer One and Pioneer Two as Tier 1 First Mover Award projects, potentially providing $400 million to accelerate deployment, though the award remains conditional.
Outside the U.S., Holtec has outlined a global opportunity pipeline of approximately 47 GW, including 14 GW in the U.S., 12 GW in Europe, 11 GW in India, and a combined 10 GW across South America, Asia, and Africa. Specific opportunities listed in the S-1 filing include a 5 GW deployment in Rwanda, projects in Sweden and Hungary, and development efforts in Turkey, Armenia, Kazakhstan, the Philippines, and Vietnam. In Latin America, Holtec is evaluating Brazil as the first regional opportunity, based on Brazil's National Energy Plan 2055 (Plano Nacional de Energia 2055), which proposes adding up to 14 GW of nuclear capacity by 2055.
In the UK, Holtec is collaborating with EDF Energy to advance another SMR-300 project. In June 2026, the two companies submitted a joint proposal to the UK government to deploy up to four SMR-300 reactors at the former Cottam coal-fired power station site in Nottinghamshire, with a total installed capacity of approximately 1.3 GW. The proposal aims to leverage existing grid infrastructure, support regional economic growth, and serve new industrial loads including data centers. Holtec completed Step 2 of the UK's Generic Design Assessment in April 2026, with regulators finding no fundamental deficiencies in the SMR-300 design and safety case. The two companies stated that SMRs at the Cottam site could enter operation in the early 2030s. The 900-acre site can accommodate multiple twin-unit SMR-300 configurations as well as data center development.
Holtec expects to deliver 27 GW of installed capacity globally by 2040, though the company cautions that most projects still require preliminary assessment, negotiation, and regulatory approval.
