TerraPower

Recent news

• May 5, 2026

  Meta’s Space Solar Bet Spotlights AI Power Gap

  Meta has announced partnerships with Overview Energy and Noon Energy to pursue space-based solar power (SBSP) and long-duration energy storage as long-term capacity solutions, with initial orbital demonstrations targeted for 2028.

  • Main announcement and timing: Meta is pursuing SBSP and long-duration storage via deals with Overview Energy and Noon Energy, targeting demonstrations planned for 2028; these efforts are described as a long-term capacity bet rather than an immediate fix for AI-driven power demand.
  • Background and context: Near-term constraints include US grid interconnection delays (~5 years on average per LBNL) and transmission limits; Meta already has >30 GW of contracted renewable energy and 7.7 GW of nuclear capacity through partnerships with Constellation Energy, TerraPower, Oklo, and Vistra, while experts note SBSP remains largely theoretical and multiyear due to technical, efficiency, and deployment cost challenges.
• May 4, 2026

  Nuclear Startup Expands into Phoenix with CLO Appointment

  NuCube Energy has established an on-the-ground presence in Phoenix and appointed Michael Green as Chief Legal Officer.

  • Expansion details: NuCube has opened its first Phoenix-based team presence and named Michael Green (formerly Deputy General Counsel for Strategic Execution at Oklo) as Chief Legal Officer to lead legal, partnership development, deployment planning, and Arizona engagement. The company cites data center, semiconductor, and advanced industrial demand in Arizona as drivers for localized deployment and co-location opportunities.
  • Background and supporting actions: NuCube recently received a DOE GAIN voucher (in collaboration with Argonne National Laboratory) to validate autonomous operations, remote monitoring, and predictive maintenance, and was selected with Idaho State University for the U.S. Department of Energy Nuclear Energy Launch Pad (USA) program to support siting of NuCube’s ART Reactor at ISU’s Pocatello campus; additionally, Arizona Nuclear Ventures led a $16 million financing round (Feb 2026) with participation from Rob Walton, Jordan Rose Walton, and Emission Reduction Corporation to fund technical validation, regulatory licensing, and early deployment pathways.
• Apr 28, 2026

  Meta Secures 1 GW Space-Based Solar Power Deal for Data Centres

  Meta Platforms has agreed with Overview Energy to secure up to 1 GW of space-based solar capacity for its data centre operations by 2030.

  • Agreement details: Meta will gain early access to up to 1 GW of capacity from Overview Energy’s space-based solar system; an orbital demonstration is expected in 2028 with commercial power delivery in 2030, and financial details were not disclosed.
  • Background and context: The deal responds to rising electricity demand driven by AI and data centre growth; Meta is developing multiple gigawatt-scale data centres in the United States, including a rural Louisiana project estimated at $50 billion, and has existing partnerships with Vistra, Oklo, and TerraPower while committing to net-zero by 2030 and contracting 10.24 GW of clean energy capacity in 2025.
• Apr 23, 2026

  How Corporate Energy Buyers Are Reshaping the U.S. Grid: CEBA CEO Rich Powell on Data Centers, Nuclear, and Permitting Reform

  The Corporate Energy Buyers Association (CEBA) CEO Rich Powell described how corporate energy buyers are reshaping the U.S. grid and urged federal permitting and transmission planning reform.

  • Main announcement/action: CEBA says corporate buyers have announced 143.8 GW of clean energy deals in the U.S. since 2014 and contracted a record 27 GW in 2025 (with ~17 GW in Q1 2026 reported by S&P Global), and CEBA members are committing to cost-allocation measures (e.g., the Ratepayer Protection Pledge) to cover the costs to serve new loads while supporting grid upgrades.
  • Background and additional details: CEBA members procured about 20 GW of solar and 5 GW of nuclear in 2025; the membership is technology-agnostic (“If it’s carbon emissions free, we like it”); Powell pressed for federal permitting reform and transmission planning codified into law so permits cannot be unduly rescinded; listed technologies include restarts, license renewals, uprates, SMRs and advanced reactors (X-energy, Kairos, TerraPower, Oklo), and new deal structures collapsing physical and virtual PPAs into hybrid firm-capacity-plus-attribute arrangements.
• Apr 23, 2026

  TerraPower’s Kemmerer 1 Enters Construction: Timeline of the Natrium Project’s Road to First Power

  TerraPower has announced the official start of construction on Kemmerer Unit 1, its flagship Natrium sodium-cooled fast reactor plant, on April 23, 2026.

  • Construction start and project scope: TerraPower announced the official start of construction for Kemmerer Unit 1 on April 23, 2026, following the NRC’s construction permit issued March 4, 2026; the plant is a 345‑MWe sodium‑cooled fast reactor with an integrated molten‑salt energy storage system that can boost output to 500 MW, with a 2030–2031 commercial operation target and an expected mobilization of roughly 1,600 workers and about 250 full‑time staff in operation.
  • Background, funding, and partners: The project was selected under DOE’s ARDP with up to $2 billion in cost‑shared federal support; Bechtel is the EPC contractor (transitioning from early works into field execution); other partners and stakeholders include GE Hitachi, PacifiCorp, a HALEU partnership with Framatome, and a data‑center‑focused agreement with Meta; the NRC permit establishes licensing firsts for a commercial non–light water reactor and uses the LMP risk‑informed approach.
• Apr 9, 2026

  From Reactor Designs to Real Projects: SMRs Enter the Execution Era as AI Power Demand Accelerates

  Data Center Frontier reports that the SMR story in early 2026 has moved from reactor design discussion to concrete industrial execution focused on permits, fuel, supply chains, financing, and customer traction.

  • Main announcement / action: Through Q1 2026 (notably March), multiple vendors advanced from partnership announcements to tangible progress: TerraPower secured an NRC construction permit for Natrium; Holtec had its LWA docketed for two SMR-300 units at Palisades and is pursuing preliminary construction and a partnership with Hyundai Engineering & Construction (aiming at up to 10 GW in North America); X-energy confidentially filed for an IPO (Reuters, March 20) and signed MOUs with Talen Energy (evaluating multiple four-unit Xe-100 deployments) and IHI to strengthen U.S.-Japan supply chains.
  • Background and other details: Vendors are addressing three execution constraints: regulatory progress, manufacturing and fuel ecosystems (e.g., NuScale expanded its Framatome fuel partnership and planned U.S. production at Richland; Oklo and Centrus plan HALEU-related joint activities at Piketon, Ohio; Kairos secured a HALEU contract with DOE), and customer alignment (growing emphasis on industrial users, utilities, and data-center-driven load). Additional milestones: GE Hitachi advanced BWRX-300 deployment work (Step 2 UK GDA, MoUs in Southeast Asia and Poland) and Rolls-Royce SMR received a UK Justification Decision and partnered on supply-chain and control-systems work.
• Mar 27, 2026

  A Faster Path to Power: What Natrium’s NRC Approval Means for AI Infrastructure

  TerraPower has received NRC approval to begin nuclear-related construction at the Kemmerer Power Station Unit 1 in Wyoming.

  • Main announcement: The NRC granted a construction permit allowing TerraPower (through its subsidiary US SFR Owner) to begin nuclear-related construction at Kemmerer; the NRC completed its final safety evaluation roughly 18 months after application (submitted March 2024, accepted May 2024, safety evaluation finished December 2025). The permit is not an operating license—TerraPower still must obtain a separate operating license before generation.
  • Background and details: The project is a 345 MWe sodium-cooled fast reactor (Natrium) coupled to molten-salt thermal storage to boost output to 500 MWe for >5.5 hours; it is a flagship DOE Advanced Reactor Demonstration Program demonstration with up to $2 billion (DOE support, 50/50 cost-share) and uses a risk-informed NEI 18-04 licensing approach endorsed by NRC Regulatory Guide 1.233.
• Mar 12, 2026

  Why Nuclear Power is Most Viable Option for Data Centers

  Ryan Mallory (CEO, Flexential) argues that SMRs will enable on-site, self-generated nuclear power for data centers.

  • Main announcement/action: Ryan Mallory asserts that SMRs can power data centers on-site and remove dependence on grid interconnection, enabling facilities to run continuously while controlled fission reactions operate adjacent to server racks; he cites expected SMR outputs of 50–300 MW, lead times of about 5–7 years for SMRs versus 10–12 years and ~$10 billion capital for a conventional 1.2-GW plant.
  • Background and details: The commentary notes interconnection wait times of around five years, U.S. data center demand rising from 176 TWh (2023) to a potential 580 TWh by 2028 (up to 12% of national demand); examples include Oklo’s Aurora at Idaho National Laboratory and TerraPower’s Natrium in Wyoming, mentions the cancelled NuScale-UAMPS project (2023) due to cost overruns, and cites nearly $9 billion committed to SMR-related development plus $50–$75 million potential early-site permitting costs.
• Mar 5, 2026

  U.S. Issues First Commercial Construction Permit for a Nuclear Reactor in Years

  The U.S. Nuclear Regulatory Commission approved a construction permit for a TerraPower subsidiary to build a sodium-cooled commercial reactor in western Wyoming.

  • Main announcement: The NRC issued its first construction permit for a commercial reactor in eight years, allowing TerraPower to begin construction within weeks on an up-to $4 billion plant near Kemmerer, Wyoming; completion is targeted for 2030 and the reactor is rated 345 megawatts (up to 500 MW peak).
  • Background and details: The permit is the NRC’s first for a non-light-water commercial reactor in more than 40 years; the plant will be sited beside a coal-fired plant being converted to natural gas, will use molten sodium as a coolant, and TerraPower says it is lining up sources of highly enriched uranium domestically and in South Africa. In January, the U.S. Department of Energy announced a first step toward modernizing the fuel cycle and invited states to express interest by April 1.
• Mar 5, 2026

  Hyperscalers Sign White House Pledge to Fund Data Center Power, Grid Upgrades

  The White House convened seven major AI/hyperscaler companies on March 4 to sign the non‑regulatory Ratepayer Protection Pledge committing to fund new generation capacity and pay for required grid upgrades so costs are not passed to residential or commercial ratepayers.

  • Main announcement (signatories & commitments): The pledge was signed on March 4, 2026 by Amazon, Google, Meta, Microsoft, OpenAI, Oracle, and xAI, committing to build, bring, or buy new generation resources and cover the cost of all power delivery infrastructure upgrades required for their data centers; companies also agree to pay for contracted power and infrastructure whether or not they ultimately consume the electricity. The White House framed the effort as a policy response to AI-driven load growth and stated companies will negotiate separate rate structures with utilities and state governments to isolate costs from existing ratepayers.
  • Background & implementation details: The article cites EPRI projections (U.S. data center demand ~177–192 TWh in 2024, rising to 9–17% of national demand by 2030, up to 793 TWh in a high scenario). It documents specific company actions and figures: Google >7,800 MW contracted in Texas and a $4.75 billion Intersect Power acquisition pending; Microsoft contracted 7.9 GW in MISO; Amazon-related deals cited ~$1 billion projected customer savings (Indiana) and a $300 million Entergy transformation (Mississippi); OpenAI’s Stargate aims for 10 GW U.S. AI compute by 2029 and committed $175 million for local infrastructure in Wisconsin. The notes also record that the pledge is non‑binding and the White House disclosure does not specify independent auditing, penalties, or a defined enforcement methodology.
• Jan 28, 2026

  AI’s Power Crunch: Six Trends That Will Decide Who Wins the Next Decade

  Shaun Walsh (CMO, Peak Nano) argues that the U.S. must massively expand generation, transmission, and grid components and treat power access as the binding constraint on national AI leadership.

  • Main announcement/action:Shaun Walsh calls for a massive expansion of power plants, transmission lines, and advanced grid hardware to meet AI demand, and urges U.S. policy to prioritize modernization, secure supply chains, orchestrate demand (data centers as grid participants), and fast‑track permitting; he frames the 2026–2036 period as the critical decade for implementation.
  • Background and detail: The commentary cites concrete trends and numbers: data centers currently consume 3–4% of U.S. electricity and are projected to reach 11–12% by 2030, component lead times (turbines, transformers, switchgear, capacitor film) are multi‑year, policy shifts (federal permitting reforms) are underway, and technologies named include nuclear, fusion, natural gas, solar, and batteries; Peak Nano and other firms are highlighted for domestic capacitor film solutions to relieve supply constraints.
• Jan 16, 2026

  Meta Builds a Nuclear Supply Chain for the AI Era

  Meta has announced a package of multi-gigawatt nuclear agreements and related support to secure firm, long-duration power for its AI data center buildout.

  • Main announcement: Meta signed a set of deals that together could support up to 6.6 GW of new and existing clean power by 2035, including a 20-year PPA for more than 2,600 MW tied to three Vistra plants (Perry, Davis-Besse, Beaver Valley), an agreement with TerraPower to support up to eight Natrium plants (Meta funding for two Natrium units totaling up to 690 MW with delivery targeted as early as 2032, plus rights to energy from up to six additional units ~2.1 GW by 2035), and a deal with Oklo to enable a prepay-backed, scalable up-to-1.2 GW nuclear power campus in Pike County, Ohio.
  • Background and implementation details:DOE announced $2.7 billion to bolster domestic uranium enrichment over the next decade (including HALEU support); Oklo has a DOE Nuclear Safety Design Agreement for an Aurora fuel facility at Idaho National Laboratory; TerraPower’s initial two-unit site is expected to be identified “in the coming months”; many elements remain in early site-selection, licensing, fuel-qualification, and interconnection stages, with explicit timelines ranging from 2026 (Meta’s Prometheus data center) through 2032–2035 for advanced reactor deliveries.
• Jan 14, 2026

  Vistra to Bolster Gas-Fired Fleet by 5.5 GW With $4B Cogentrix Acquisition

  Vistra Corp. has executed definitive agreements to acquire Cogentrix Energy from funds managed by Quantum Capital Group in a $4 billion transaction announced Jan. 5, 2026, adding 10 natural gas plants (5,496 MW) across PJM, ISO New England, and ERCOT.

  • Main announcement & deal specifics: Vistra will acquire 100% ownership of the Cogentrix portfolio for $4 billion, adding 5,496 MW of modern natural gas capacity (10 plants) and increasing Vistra’s total generation footprint toward ~50 GW; the transaction is subject to FERC, DOJ (HSR), and state regulatory approvals and is expected to close mid-to-late 2026. The deal includes acquiring the remaining 25% interest in the Patriot and Hamilton-Liberty plants and excludes Cogentrix’s Cedar Bayou 4 (550 MW), which Cogentrix will retain.
  • Background, financing, and timing context: The acquisition follows Vistra’s October 2025 purchase of Lotus Infrastructure gas assets for $1.9 billion (2,600 MW) and is supported by capital markets actions including $2.25 billion in senior secured notes (Jan 2026) and a prior $2 billion secured notes issuance (Oct 2025); Vistra expects mid-single-digit accretion in 2027 and high-single-digit average accretion (2027–2029) to Ongoing Operations Adjusted Free Cash Flow before Growth per share. Regulatory reviews (notably FERC Section 203) will examine competitive impacts in PJM and ISO-NE.
• Jan 13, 2026

  Meta establishes Meta Compute to lead AI infrastructure buildout

  Meta has launched Meta Compute to centralize responsibility for building and operating data centers and networks under a single leadership structure.

  • Main announcement: Meta announced Meta Compute, co-led by Santosh Janardhan and Daniel Gross, to unify data center and network oversight; the company says it is planning to build tens of gigawatts this decade, and hundreds of gigawatts or more over time, and will coordinate with Dina Powell McCormick on partnering with governments and sovereigns to build, deploy, invest in, and finance Meta’s infrastructure.
  • Background and details: The announcement follows landmark agreements with Vistra, TerraPower, and Oklo to support access to up to 6.6 gigawatts of nuclear energy for Meta’s Ohio and Pennsylvania data center clusters; analysts highlight pressure on networking and optical supply chains (mentions of 51 Tbps switches, Disaggregated Scheduled Fabric, and demand for faster fiber) and the need to integrate power and networking in facility design.