Amazon announces major investment in nuclear power

The Climate Pledge Fund from Amazon has spearheaded a $500 million investment in X-energy, a company working on small modular reactors (SMRs), as per X-energy’s press office.

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Amazon announces major investment in nuclear power © The Strategist

In collaboration, Amazon and the startup plan to introduce over 5 GW of electricity to the US market by 2039. Also, Amazon has entered into deals to help progress nuclear power with Energy Northwest and Dominion Energy, as stated on their official site.

Amazon announced that it will collaborate with Energy Northwest, a consortium of state-owned utilities in Washington, to build four advanced MMRs. Energy Northwest will own and operate the reactors, anticipated to produce around 320 MW of power initially, with the capacity to potentially rise to 960 MW.

Amazon is working with Dominion Energy in Virginia to investigate constructing a micro modular reactor close to an operational nuclear power facility. The company anticipates that this will result in approximately 300 MW of extra power generation. Dominion stated that electricity demand is projected to rise by 85% within the next 15 years in that particular state.

source: bloomberg.com

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