Establishes advanced nuclear energy procurement program in BPU.
The Power NJ Act establishes a program for the Board of Public Utilities (BPU) to procure advanced nuclear energy projects in New Jersey. The BPU, in collaboration with the New Jersey Economic Development Authority, will issue a request for expressions of interest for advanced nuclear energy projects. Projects that meet certain criteria will be granted provisional qualification status. The BPU and the authority will then negotiate terms with provisionally qualified projects. If certain conditions are met, the BPU will issue a final board order approving the project.
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