Dive Brief:
- Babcock & Wilcox wants to sell up to a 70% stake in its Generation mPower joint Venture with Bechtel Corp. to design a new generation of small modular nuclear reactors.
- B&W owns 90% of the venture and has asked JPMorgan Chase to help it find other investors so that it can reduce its stake to 20%. B&W has invested about $360 million so far in mPower.
Dive Insight:
Generation mPower's reactor design is still being tested. The value of nuclear power as clean baseload generation has been eroded by the abundance of natural gas and a trend toward conservation that is flattening electricity demand forecasts.
