"Utah Associated Municipal Power Systems (UAMPS) and Xcel Energy Nuclear Services Holdings have entered into a Term Sheet agreement outlining a process, roles and next steps that would be taken if Xcel Energy were to become a potential operator of the Carbon Free Power Project (CFPP) being developed by UAMPS.

The CFPP will be an electric generating plant utilizing small modular nuclear reactor modules manufactured by NuScale Power of Portland, Oregon. It is proposed to be located at the Department of Energy’s Idaho National Laboratory near Idaho Falls. The CFPP development and construction schedule anticipates the full plant being commercially operational in 2030.

Xcel Energy is an experienced nuclear plant operator and has signed a memorandum of understanding outlining a Teaming Agreement with NuScale Power to explore becoming a preferred plant operator for future NuScale VOYGR small modular reactor plants. CFPP would be the first such plant."

The UAMPS/Xcel Energy term sheet commits both parties to work toward a potential Maintenance and Operating (M&O) contract in mid-2022, with Xcel Energy providing a variety of operating services that could include direct operations."