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The state’s intended energy direction under Gov. Mike Braun’s administration was stated energetically by Indiana Energy Secretary Suzanne Jaworowski in her comments Wednesday to open the Global Nuclear Energy Economic Summit at Purdue University in West Lafayette.
“Now is the time,” she said at the start of the two-day event described as a partnership between state government and the Purdue School of Engineering. “Indiana is the place.”
“This event aims to bring together various stakeholders in the nuclear industry to collaborate and deploy innovative ideas in Indiana,” Jaworowski added.
Jaworowski’s promotion of the potential for nuclear power to be a significant source of electricity in the state comes just a day after energy startup First American Nuclear announced intentions to build its first nuclear-powered small modular reactor, or SMR, in Indiana, in what could involve an anticipated $4 billion investment and the creation of about 5,000 jobs.
What’s more, AES Indiana President Brandi Davis-Handy announced during the summit that her utility is starting a technical feasibility study of adding SMRs at its Eagle Valley (near Martinsville) and Petersburg (in Pike County) generating stations.
“This analysis will highlight opportunities to optimize nuclear facility licensing, construction feasibility and operational liability, ensuring a clear path forward for successful project development,” Davis-Handy said.
She said the study is expected to be completed in June. AES Indiana provides electricity to more than 530,000 customers in and around Indianapolis.
Also during the summit, the Purdue College of Engineering announced it was launching the nation’s first online credential program in SMRs, with emphasis on the history, development, operation, digital controls and advanced manufacturing of SMRs.
Purdue also announced a new Institute for Energy Innovation, which the school said will bring together faculty, students and industry partners to streamline innovation.
“Civilizations rise and fall on energy,” Purdue President Mung Chiang said.
For the summit, several hundred attendees from energy companies, utilities, academia, government and regulatory agencies as well as Purdue students and others gathered in the university’s Loeb Playhouse to hear speaker after speaker tell of renewed optimism for nuclear energy to provide safe, clean and reliable power.
The nuclear summit at Purdue on Wednesday featured about 30 keynote speakers and panelists from organizations including Amazon, Google and investment firms, as well as a fireside chat between Braun and Purdue’s Chiang.
On potential costs of nuclear investment, Braun said: “Most Hoosiers are worried about their utility bill, so then we got to do this in a way that makes sure that it doesn’t raise costs. … The hyperscalers, some of the most well-heeled companies in the world realize they are going to have to be part of the cost of (energy) generation.”
Multiple speakers linked the power demands required by data centers for artificial intelligence with the need for nuclear power.
“AI is a very power-hungry technology,” said Rex Geveden, CEO of BWXT, a Virginia-based manufacturer of nuclear components that just announced a strategic collaboration with Purdue.
At one point, 13 leaders from First American Nuclear, which goes by Fanco, were brought on stage and recognized for their plans to build an SMR in Indiana as well as move their headquarters from Washington state to Carmel.
Missing from the summit lineup were consumer groups or skeptics of nuclear power and SMRs. Instead, the focus was on bringing together industry players, investors and developers.
In some ways, the U.S. nuclear industry is emerging from a time capsule in part caused by safety concerns stemming from incidents such as the Chernobyl disaster in 1986.
Most nuclear reactors in the United States were built between 1970 and 1990, according to the U.S. Energy Information Administration.
Julie Benz, an adviser for policy and safety for Fanco, said that gap has created a need for expertise in nuclear power. “When you look at the experts, they’re going to be 60 and over and 40 and younger,” she said.
She said Indiana is positioning itself as a nuclear leader by offering resources including engineering talent and a reactor as well as a robust transportation network and expertise in manufacturing.
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Renewable energy sources are a much better idea than nuclear reactors, unless Braun is planning on solving the problem of radioactive waste too. The radioactive half-life of many isotopes can be millions of years. Maybe the good people of Mike’s beloved Jasper Indiana would like to host the dump where radioactive waste is stored. Good luck.
The spent fuel is currently safely stored at plants all over the country. If not something like Yuca mountain, which became a political football, then the Indian tribes have expressed interest in a repository on their property.
Do they understand the costs? At a time when there’s significant public backlash over electricity costs, new nuclear will only increase costs in the short-term.