American Electric Power and X-energy have agreed to evaluate a 960-MW small modular reactor project in Indiana. Amazon is backing the development with funding and a proposed long-term power purchase agreement.
The proposed plant would be configured in three groups of four reactors, each totaling 320 MW, for a combined 960 MW.
Amazon will provide development funding and intends to purchase the plant's electricity under a long-term contract. AEP said the agreement would cover the costs of the facility and its operations for the contract's duration.
Amazon led X-energy's Series C-1 financing round through its $2 billion Climate Pledge Fund, and the round ultimately closed at $700 million, according to Amazon's Oct. 19 announcement.