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Home Themes Nuclear Renaissance

New York to Build First Major U.S. Nuclear Power Plant in Over 15 Years

by Team Lumida
June 24, 2025
in Nuclear Renaissance
Reading Time: 5 mins read
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AI’s Power Play: How Nuclear Energy Fuels Data Centers

"Nuclear Energy" by theglobalpanorama is licensed under CC BY-SA 2.0

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Key Takeaways:

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  1. Governor Kathy Hochul has directed the New York Power Authority to add at least 1 gigawatt of nuclear power generation, enough to power about 1 million homes.
  2. The project marks the first major U.S. nuclear plant in over 15 years, testing President Trump’s executive orders to expedite nuclear project permitting.
  3. Potential sites include New York’s existing nuclear facilities, with plans to explore both large reactors and smaller modular reactors to reduce costs.
  4. The initiative aims to address growing energy demand, reduce greenhouse gas emissions, and provide reliable baseload power to complement renewables.
  5. New York is collaborating with Constellation Energy and Canadian officials to study advanced nuclear technologies and secure federal grants for the project.

What Happened?

New York announced plans to construct a new nuclear power facility, the first major U.S. project of its kind in over 15 years. Governor Kathy Hochul has tasked the New York Power Authority with adding at least 1 gigawatt of nuclear power to the state’s energy grid.

The project aligns with President Trump’s recent executive orders aimed at accelerating nuclear development by streamlining permitting processes, boosting domestic fuel supplies, and utilizing federal lands for reactors. Hochul emphasized the need for reliable, emissions-free energy to meet growing demand and reduce reliance on fossil fuels.

Potential sites for the new plant include New York’s existing nuclear facilities, such as the Nine Mile Point Clean Energy Center in Oswego. The state is also exploring the use of small modular reactors (SMRs), which could lower costs and address challenges faced by traditional large-scale reactors.


Why It Matters?

The project represents a significant step toward revitalizing the U.S. nuclear industry, which has struggled for decades due to safety concerns, cost overruns, and slow permitting processes. Nuclear power is increasingly seen as a critical component of the energy transition, providing reliable, round-the-clock electricity without greenhouse gas emissions.

For New York, the initiative addresses the state’s growing energy needs while reducing its carbon footprint. The closure of the Indian Point nuclear plant in 2021 led to increased fossil fuel use, highlighting the need for emissions-free baseload power.

The project also reflects a broader shift in public and political attitudes toward nuclear energy, with growing support from technology companies and communities near existing plants.


What’s Next?

The New York Power Authority will identify a site and determine the reactor design, with options ranging from a single large reactor to multiple smaller modular reactors. The state will also work with Constellation Energy and Canadian officials to study advanced nuclear technologies and secure federal funding.

Lessons from recent projects, such as the costly and delayed Vogtle reactors in Georgia, will inform the development process to avoid similar pitfalls. Meanwhile, the state will continue advocating for federal reforms to streamline nuclear permitting and reduce project timelines.

The success of this project could pave the way for a new era of U.S. nuclear development, with implications for energy policy, climate goals, and economic growth.

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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018