Purdue, Duke Explore Advanced Nuclear Power
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Purdue University and North Carolina-based Duke Energy (NYSE: DUK) are exploring the feasibility of used advanced nuclear energy to meet the long-term energy needs of the West Lafayette campus. The partners say they will study power generated through Small Modular Reactors.
They say the collaboration would be unprecedented in the use of atomic power. SMRs are smaller than traditional nuclear power plants. Purdue says the system would generate enough power for campus and excess power would be sold into the state’s electric grid.
“No other option holds as much potential to provide reliable, adequate electric power with zero carbon emissions,” said Purdue President Mitch Daniels. “Innovation and new ideas are at the core of what we do at Purdue, and that includes searching for ways to minimize the use of fossil fuels while still providing carbon-free, reliable, and affordable energy.”
SMRs are considered revolutionary because of their modular concept. They can be prefabricated off site and then moved into place, saving money in construction costs.
The advanced nuclear technology is still under development.
“Duke Energy is leading the industry’s biggest clean energy transformation nationwide,” said Duke Energy Indiana President Stan Pinegar. “As the largest regulated nuclear plant operator in the nation, we have more than 50 years of experience with safe, reliable operations. We can share that experience with one of America’s premiere engineering schools to see what this technology could do for its campus as well as the state.”
The two entities also partner on traditional energy sources. Two weeks ago, they dedicated a new Duke Energy plant on campus that provides thermal energy in the form of steam to the campus.
The university Approximately 50% of campus electricity is purchased from Duke Energy.