New York to build advanced nuclear power plant in upstate New York, Governor says

Kathy Hochul, the Governor of New York, announced on Monday that the state plans to build a nuclear power plant capable of producing at least one gigawatt, making it the first new reactor in the United States for a generation.

After decades of stagnation in the U.S., nuclear power is experiencing an renaissance. This is due to the record-breaking electricity demand caused by the proliferation of data centers that consume a lot of energy and the electrification industries such as transportation and manufacturing.

Hochul, at a recent press conference, said that "we need electricity which is reliable throughout the day." "The best way to produce zero-emission electricity is by harnessing the power from the atom."

New York intends to partially finance and purchase electricity from the nuclear plant. The cost of the nuclear project hasn't been revealed.

The exact location of the project and the timeline are not yet known.

Hochul has instructed the state's energy authority to proceed with the plans for the site and eventual construction of the nuclear build.

In January, the governor released a Master Plan for Responsible Advanced Nuclear Development to gauge interest from the market in developing advanced nuclear technologies in light of rising electricity demands.

Late in May, U.S. president Donald Trump signed executive order directing the independent nuclear regulatory agency to reduce regulations and expedite new licenses for power plants and reactors. (Reporting and editing by Mark Porter, Nia Williams and Laila Menon)

(source: Reuters)