IP3, GEP team up for Surry Green Energy Center

15 August 2023

IP3 Corporation (IP3) and Green Energy Partners LLC (GEP) have formed a joint venture to establish the Surry Green Energy Center (SGEC) in Surry County, Virginia. Property and project development company GEP announced plans in April to build the USA's first integrated green energy centre adjacent to Dominion Energy's Surry nuclear power plant.

Green Energy Partners' concept for a green energy centre in Virginia (Image: Green Energy Partners)

The SGEC will be a new data centre hub powered by carbon-free green energy and from small modular reactors (SMRs) on-site. GEP has secured 641 acres in Surry County on which to build the centre. The project includes a fleet of 4-6 SMRs powering 20-30 data centres, generating hydrogen fuel, and providing back-up power for Virginia's grid. The SGEC aims to expand Virginia's data centre capacity and offset escalating power demands.

IP3 is a developer and integrator of nuclear energy programmes in coordination with its wholly-owned subsidiary, Allied Nuclear Partners. A second subsidiary, IP3 Security, provides physical and cyber security expertise. IP3 will provide project development, financial structuring, and funding solutions in a phased approach. The joint agreement addresses inception, development, financing and operations that will attract private capital and cutting-edge energy companies to Virginia.

"Virginia's data centres process over 70% of the world's internet data and the need for data storage and handling is growing exponentially," IP3 said. "These data centres also consume about 25% of Virginia's energy, powered today by carbon-based fuels."

The joint IP3-GEP project will supply digital infrastructure and future power supply services to government agencies and military bases across the region from Washington, DC, to Norfolk, Virginia.

"The Commonwealth of Virginia has developed a purposeful plan for their energy future. They are ready to harness the smart energy transition to create jobs for Americans and set an example for developing clean industrial zones," said IP3 co-founder and CEO Michael Hewitt. "Infrastructure investment needs to be radically reoriented. The combined expertise of GEP and IP3 will access private capital markets to help Virginia's energy sector become a model for an era of American energy sovereignty."

"For nearly fifty years, we have delivered positive growth for Virginia. Today, we see a clear path to clean power that reinforces America’s national security and supports a carbon-free future," added GEP CEO Mark Andrews. "GEP and IP3 offer a powerful partnership to pioneer an America-first solution for low-carbon energy security."

Researched and written by World Nuclear News