One Nuclear Energy, an independent developer of large-scale energy solutions powered by natural gas and advanced nuclear technologies, is eyeing the Ascension/Iberville parish corridor near the Riverplex MegaPark for two multibillion-dollar energy projects, including a natural gas and battery development and a separate small modular nuclear reactor project.
Last week, the company announced that it had executed a binding letter of intent with a Louisiana landowner group, providing site control for the development of Project Cayman, a proposed natural gas generation, battery storage and co-located data center development, last week before unveiling Tuesday that it is moving forward with Project Amberjack, a proposed two-unit small modular reactor, or SMR, development.
While One Nuclear has secured control of preferred sites in the region, company officials say it has not yet determined final locations. Chris Hansmeyer, the company’s chief development officer, tells Ascension Business Report that One Nuclear plans to spend the coming months meeting with parish officials, landowners and residents before making those decisions.
“This is the site that shows the highest potential, but that potential doesn’t have value until we get partnership with the parish and the local community to make it align to make sure it aligns with what folks want,” Hansmeyer says. “We’re going to go spend the next three months firmly engaged in the community, and we’re going to design a project that meets everyone’s needs.”
Years in the making
Hansmeyer says the company has site control in both Ascension and Iberville parishes and has analyzed other river-adjacent locations for the SMR project. The preferred sites are near the parish line.
The projects are the culmination of years of work for Hansmeyer, who previously developed solar projects in Louisiana, including the Oxbow project in Pointe Coupee Parish while working for Lightsource bp. He says he first began evaluating some of the properties roughly seven years ago, but they were not a good fit for solar development. The growth of the RiverPlex MegaPark and other infrastructure in the area prompted another look after he joined One Nuclear.
“Even though it feels like an instant announcement of projects that you never heard of, I’ve been looking at this land and running constraints on it for going on seven-plus years,” Hansmeyer says.
Billions in potential investment
Project Cayman’s preferred site comprises more than 400 acres and could accommodate as much as 2.88 gigawatts of natural gas generation along with battery storage, Hansmeyer says. The ultimate size will depend on customer demand, with potential users ranging from industrial facilities and data centers to utilities and other power buyers.
Based on industry benchmarks rather than a final project estimate, Hansmeyer says Project Cayman could represent roughly $4 billion to $6.5 billion in capital investment. The project could support an estimated 1,500 to 2,500 construction jobs at peak and 125 to 200 permanent positions.
Amberjack would be substantially larger. One Nuclear is considering two SMR units that would require roughly 750 acres of land for the project. Hansmeyer says comparable projects suggest an investment of roughly $8 billion to $12 billion, though he and One Nuclear CEO Richard Taylor stressed those figures are based on industry benchmarks rather than project-specific forecasts.
According to industry benchmarks, construction of the nuclear project could require an estimated 2,500 to 3,000 workers at peak over a multiyear construction period, with 300 to 450 permanent jobs once operational, Hansmeyer says.
Nuclear as the long-term play
Taylor says nuclear power is central to One Nuclear’s long-term strategy, while natural gas and battery storage can provide customers with power sooner as nuclear projects move through longer development and regulatory processes.
“Our long-term focus is on sustainable energy through nuclear SMR projects, and we believe nuclear is going to be the cheapest, the cleanest technology to provide reliable baseload energy in the long term, and our customers want nuclear power longer term, but they need power today,” Taylor says.
Amberjack would require a lengthy engineering, design and permitting process that includes review by the U.S. Nuclear Regulatory Commission. Hansmeyer says One Nuclear plans to simultaneously explore natural gas, battery storage and a co-located data center at the Amberjack site, allowing the property to generate economic activity even if the nuclear component ultimately does not move forward.
Community outreach begins
Community outreach is already underway. Hansmeyer says he has met with landowners and begun discussions with Iberville parish officials. Additional meetings with other local officials, including those in Ascension Parish, are planned this month, followed by public information meetings beginning in October.
“None of this is a forced thing,” Hansmeyer says. “It’s just to say, ‘hey, we have landowners. We have government support, and we have an opportunity to put this infrastructure in this area. What do you all think about it? How could we make it work?’”
Hansmeyer described the preferred site destinations as being on the edges of the parishes, away from residential areas. He also said One Nuclear intends to design around existing trees, wetlands, drainage and canals rather than significantly altering those features.
“The goal here is to make this work,” he says.
