Oyster Creek Among Potential Sites For Small Nuclear Reactor

LACEY, NJ — A subsidiary of South Korean automaker Hyundai and the nuclear company Holtec International have partnered to build a nuclear plant prototype that could be based in Lacey some time in the future.

Holtec International, the Camden-based company that oversees the decommissioning of the former Oyster Creek nuclear plant, recently announced the new partnership. The companies are working to build Holtec's SMR-160 plant, a small modular reactor meant to reduce costs for nuclear power.

The Oyster Creek decommissioning site is among several locations Holtec is considering for the SMR-160 plant.

Mayor Peter Curatolo told Patch that the development of a small nuclear reactor at the Oyster Creek site could benefit Lacey Township and other surrounding towns.

“I have visited the Oyster location. The oversight at the State and Federal levels dovetailed with the experience, technology and security currently in place inspire confidence,” Curatolo said.

“In the future, should the partnership between Hyundai and Holtec progress, the result will not only be employment opportunities at every level for our residents but the economic ripple effect will resonate positively throughout Lacey Township and the whole of Ocean County.”

Holtec has initiated the licensing process with the U.S. Nuclear Regulatory Commission with the goal of securing a site construction license in 2025. Holtec expects to have the decommissioning of Oyster Creek completed by 2025, while its SMR-160 prototype could be completed by 2030.

Hyundai Engineering & Construction will perform the detailed design of the plant and prepare the full plant construction specification for the SMR-160 under development by Holtec.

Once complete, the reactor should produce as much as 160 megawatts of electricity. For comparison, the former Oyster Creek nuclear plant had a 625-megawatt capacity, or enough electricity to power more than 600,000 homes.

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