Bill Gates, the co-founder of Microsoft Corp MSFT, and his energy company TerraPower have commenced construction on a next-generation nuclear power plant in Wyoming. The project is expected to significantly transform power generation.
What Happened: Gates and his team have initiated construction at their Wyoming site, which is located next to the coal plant of PacifiCorp’s Naughton Power Plant. The new nuclear power plant will utilize sodium for cooling, a departure from traditional water-cooled reactors.
“This next-generation nuclear power plant is a big step towards safe, abundant, zero-carbon energy,” Gates wrote on X, directing readers to Gates Notes, his personal blog. There, he talks about his encounters with people, the books he’s currently reading, and the knowledge he’s acquiring. “I've been waiting for this day for nearly 20 years.”
The project, which has been submitted to the Nuclear Regulatory Commission for approval, is expected to operate as a commercial nuclear power plant. The Naughton Power Plant is set to cease coal burning in 2026 and natural gas a decade later, with plans to transition to carbon-free power from the new reactor.
The construction work aims to prepare the site for the reactor’s potential approval, which would make it the first advanced reactor to operate as a commercial power plant in the U.S. in about 40 years, according to the NRC.
Advanced reactors can provide heat for various industrial processes, reducing fossil fuel reliance. John Kotek of the Nuclear Energy Institute highlights their potential for producing hydrogen, petrochemicals, ammonia, and fertilizer, according to AP News. Gates’ investment in nuclear power is seen as a crucial step in combating the climate crisis, according to Kotek, NEI’s senior VP for policy.
"I think this has helped open people's eyes to the role that nuclear power does play today and can play in the future in addressing carbon emissions," Kotek said. "There's tremendous momentum building for new nuclear in the U.S. and the potential use of a far wider range of nuclear energy technology than we've seen in decades."
Why It Matters: In May, Bill Gates emphasized the importance of nuclear energy in achieving energy independence and combating climate change. He shared on his blog, Gates Notes, that the Natrium plant in Wyoming could be operational by 2030. Gates highlighted the plant’s potential benefits for the local economy and the broader energy landscape.
Interestingly, Elon Musk and Gates, often seen as rivals, both support nuclear energy as a key component of a sustainable future. Musk criticized Gates for shorting Tesla stock while advocating for clean energy, yet both agree on the need for increased public support for nuclear power.
Earlier this year, Gates also explored expanding his nuclear energy initiatives to West Virginia. He visited a closed coal-fired plant and praised the state legislature’s decision to repeal the ban on nuclear power, indicating his interest in broadening TerraPower’s reach to the east coast.
Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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