New York Power Authority and Ontario Power Generation have entered into a memorandum of understanding (MOU) that establishes a framework for collaboration on the development of advanced nuclear technologies.
The MOU, first announced Dec. 18, will explore large-scale and small modular reactors (SMRs) in an effort to decarbonize and strengthen energy reliability and affordability in New York and Ontario, Canada.
Under the agreement, New York Power Authority and OPG will share information and expertise to enhance understanding of nuclear financing, support workforce development initiatives and bring forth advanced nuclear technologies, according to the release.
Opportunities for an electricity trade between Ontario and New York will also be studied.
“This first-of-its-kind agreement represents a bold step forward in our pursuit of a clean energy future,” New York Gov. Kathy Hochul (D) said in the release. “By partnering with Ontario Power Generation and its extensive nuclear experience, New York is positioning itself at the forefront of advanced nuclear technology deployment, ensuring safe, reliable, affordable, and carbon-free energy that supports good-paying jobs for generations to come.”
Hochul and Ontario Premier Doug Ford also signed a separate declaration of intent, which pledges continued cooperation.
“The DOI [declaration of intent] recognizes the shared history, geography and values between New York and Ontario and the essential contribution of businesses, whose cross-border activities promote job creation, stimulate innovation and strengthen shared prosperity,” according to the release.
In June, Hochul announced plans for the state of New York to explore the development of at least 1 gigawatt or 1,000 megawatts of advanced nuclear energy. Since the summer, the New York Power Authority has allocated $40 million for workforce development and has issued a request for information about the proposed project.
The New York Power Authority also hired former Nuclear Regulatory Commission chair Christopher Hanson as a consultant for nuclear energy financing and development.