The SONDORS Metacycle first ride: Does this low-cost electric motorcycle meet the hype?
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2 years agoon
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adminI waited for this day for nearly two years, biding my time until I would finally get a chance to throw a leg over the SONDORS Metacycle electric motorcycle and ride off into the sunset with the twist of a wrist.
I never quite got that sunset, but an overcast LA morning was the next best thing I could wrangle up on short notice. The SONDORS team let me take out an early production Metacycle to get a sense of how the bike rides and whether or not it lives up to the long-building hype.
Where did the bike come from?
Just a quick refresher to set the stage: SONDORS is an electric bicycle company that unveiled a sexy-looking $5,000 electric motorcycle set to drastically expand the brand’s market reach. The bike claimed impressive specs including an 80 mph (130 km/h) top speed and an 80 mile (130 km) range to match.
The project ended up running a bit long in the production cycle, rolling out nearly a year after the earliest promised delivery date.
Over that time, the specs and appearance started to change too. The sexy silvery polished aluminum frame turned into a gray painted frame. The bike had less-than-elegant plastic bits added all over, including necessary DOT parts, like a rear fender to hold the license plate, larger (and more legal) lights and signals, etc. The SONDORS Metacycle somehow gained around 100 pounds (45 kg) from its target weight. The quick release battery turned into a slow-release battery that requires a tool. And the price walked up from $5,000 to $6,500.
So yeah, there were a lot of changes along the way: Some were for legal reasons. Some were for comfort reasons (like a plusher padded seat). And some were likely cost savings measures. I can’t imagine how many hours went into polishing that prototype’s shiny aluminum frame. It surely wasn’t cost-effective for mass production.
After all of that, the bikes finally started rolling out to early reservation holders, or at least those folks who were living in Southern California.
And that’s where I come in. I may not live in Southern California, but while passing through, I got to borrow one of these early bikes for the morning, and here I am to tell you about it.
Make sure you check out my video below if you want to see the bike in action.
Love the one you’re with
I’d have loved to ride the original SONDORS Metacycle from all those beautiful product shots we saw in early 2021. But that’s not the bike that is getting delivered these days. That bike now exists only in the thoughts and memories of those who drooled over it many months ago. So all I can do is tell you how the real-world SONDORS Metacycle looks, feels, and rides.
For anyone that laid down a cool five G’s last year and is getting a somewhat different bike than they expected, that’s definitely a bummer, and I feel your pain. But what I can tell you is that the bike you’re getting is still a fun ride. And it’s still an awesome little commuter bike.
With SONDORS’s background in electric bicycles, it’s no surprise that the company’s first electric motorcycle is a commuter-spec bike. It’s not overly powerful, and it’s not overly sporty. But that doesn’t mean it can’t offer a fun ride.
The bike feels much lighter than its reportedly more than 300 pound (136 kg) curb weight. It spits right out in front of traffic when the light turns green, which is exactly what I want in a commuter bike.
I don’t need to beat a Ducati off the line. I just need to beat that distracted SUV driver texting her boyfriend while juggling a latte in the other hand.
With so much of the bike’s weight mounted down south with that low-slung battery and rear hub motor, the bike is quick to lean and quicker to stand back up, making for a nimble ride in traffic. And the SONDORS Metacycle is so easy to ride that it feels like a great starter bike. It’s basically a sexy scooter. Someone who has spent years on electric bicycles but has no motorcycle experience could hop on it and feel at home. In one ride, they’d probably be comfortable with it, though riding at highway speeds for someone only used to going 30 mph (48 km/h) on an electric bicycle can sometimes take a bit longer to get used to.
But for so many e-bike riders that have toyed with the idea of upgrading to an electric motorcycle, the Metacycle is probably one of the best candidates I’ve ridden in terms of easing that transition by blurring the line between e-bike, e-moped, and e-moto.
The 14.5 kW peak rated motor puts out 20 horsepower, which is sufficient for this type of commuter riding but isn’t going to leave you slipping off that narrow seat. Speaking of which, I was expecting the seat to be an issue, but I found it to be surprisingly comfortable. I’m not a big guy myself, and I don’t have an American-sized rear end, so perhaps that’s part of it, but I felt like I could sit on that bike for hours without an issue. The hour or so I spent on it was perfectly comfortable.
The only uncomfortable part of the bike to me was how my ankles tended to rub on the wide battery case. By changing my stance a bit, I could mostly get away from it, but I think if the battery had stayed as slim as it looked in the original prototype photos, then that issue would have been avoided entirely.
Other than that though, the bike felt quite comfortable and confidence inspiring. In fact, the SONDORS Metacycle largely feels like a scaled up electric bicycle, which makes sense based on the company’s roots. You’re in a more upright riding position that gives you a better view of the road and the cars around you. It’s not a little City Slicker electric motorcycle, but it’s also not a big Energica either.
The bike even had some cool features that I’ve never seen anywhere else. That glove box with the wireless charger is a really cool feature that likely came out of SONDORS never having designed a motorcycle before and not being limited by what people think of as conventional motorcycle features. It’s easier to think outside of the box when you’ve never seen the box before.
I did notice that occasionally I’d hit a big bump and my phone would jump around a bit, stopping and then starting the wireless charging if it didn’t quite land back in the correct spot. But as long as I stayed away from major potholes, it wasn’t too much of an issue.
And speaking of those potholes, the bike’s suspension was also decent. It’s not super plush, and you do have a pile of unsprung weight in the rear wheel, but then again, this isn’t a performance bike. For cruising around town and hitting the freeway, the suspension was more than adequate.
What are the disadvantages of the SONDORS Metacycle?
As much as I enjoyed the ride, there were several areas that seemed a bit limiting to me.
First was the range. With just a 4,000 Wh battery, you’re not going to be going too terribly far. They claim a maximum range of 80 miles (130 km), but that’s likely only possible at electric bicycle speeds.
Here’s a little tip for you and a quick way you can suss out whether or not e-bike or e-motorcycle ranges are BS. Use these two numbers: 25 Wh/mile and 50 Wh/mile. The former is the efficiency of an average e-bike on throttle only at around 20-25 mph. The latter is the same figure for a light electric motorcycle or seated electric scooter (think Vespa-style) at around 30 mph.
So if you’re sticking to absolute city speeds, you can take an e-scooter or light e-moto’s battery capacity in watt-hours and divide it by 50 Wh/mile. In this case, that’s 4,000 Wh divided by 50 Wh/mi, giving us 80 miles. Bam. There you go. So if you’re super gentle on the throttle and you don’t exceed 30 mph, you might be able to just eke out that 80 miles of range from the SONDORS Metacycle. But good luck staying at those speeds.
During my riding, I had an extrapolated range of around 40-45 miles (64-72 km), though that was with plenty of highway riding and ample use of the sport mode button (more on that in a moment). As a commuter bike, that’s probably fine for most people.
If you need to take a highway and you have a commute of less than 20 miles (32 km), or double that if you can charge at work, then the bike can work for you. But the SONDORS Metacycle is not a long-range motorcycle by any stretch of the imagination.
Oh, and one more thing about the battery. The display uses one of those 10-segment battery bar icons instead of displaying a battery percentage. That may be fine for some people, but my engineering background makes me super uncomfortable with that fuzzy approximation. I’d rather see battery voltage if I could, but if not, then at least give me a battery percentage readout. I don’t need five significant figures, but I’d rather know I have 28% battery charge than just that it’s somewhere between 20-30%. Don’t do the analysis for me with battery bars; just tell me exactly what I have left!
Actually, one more thing about the battery. The fact that you can’t remove the battery using some type of quick release anymore, which was part of the original design, is also a bummer for those that wanted to carry it into their home or apartment for charging each night. That was a huge feature that somehow got left by the wayside. For those that planned to bring the battery inside an apartment to charge, going through a two-minute procedure that includes unbolting several bolts in an aluminum housing each day just isn’t realistic.
Now let’s talk about that top speed. Yes, the bike can hit 80 mph (130 km/h), at least assuming the speedometer is accurate. But it can’t sustain it.
I always assumed that 80 mph top speed from the marketing was going to be a constant top speed. But the SONDORS Metacycle actually tops out somewhere between 60-70 mph (96-112 km/h) during normal cruising. There’s a turbo button that engages Sport Mode for about a minute or so and lets you get up to 80 mph. That makes it good for passing or other maneuvers where you’d want all of your power and speed on tap. But once that minute is up, you’ve got to wait a bit before you can use the turbo button again. It’s like a power-up in a video game that has a recharge period.
If you never take roads that require going over 65 mph or so, then this won’t even be an issue to you. But if you were counting on that 80 mph top speed to always be there, then you’re in for a rude awakening.
Lastly, as much as I enjoyed the ride, it felt like there was just something missing. It’s hard to put my finger on it, but the bike didn’t seem to have the same passion that I feel on other electric motorcycles I ride. I know that’s an annoyingly vague sentence, but to be fair, it’s an annoyingly vague feeling. I don’t know quite how to describe what’s missing or why it feels that way. Maybe it’s the muted scooter-style performance. Maybe it’s the lack of a belt drive to give some type of sound feedback. Maybe it’s that its so easy to ride that you almost feel like you’re on an electric bicycle. I’m not quite sure. I’m not saying it’s not fun. It’s absolutely an enjoyable ride! But it just doesn’t have that passion to it that I feel on other bikes.
Part of that feeling may be that I went into this with the wrong frame of mind. I had been on a LiveWire One and an Energica Eva Ribelle in the few days before riding the Metacycle. Those two flagship electric motorcycles have several times the power of the Metacycle and are completely different beasts. When you hop on the Metacycle, you have to remember what it is and what it isn’t. It’s a fun and engaging ride, but you should expect performance more in line with a good, peppy scooter. It’s not a flagship electric motorcycle, and it was never meant to compete with those bikes.
Would I buy the SONDORS Metacycle?
Yes, definitely. Despite the list of disadvantages and even at its now higher $6,500 price, I still think the SONDORS Metacycle is worth it.
There are downsides, sure. Until they release some type of storage box for that center cavity, you can’t really carry anything on it that doesn’t fit in the TI-84 calculator-sized glove box. And even though they talked about releasing pillion pegs at some point, it doesn’t seem like a bike that is going to be comfortable for two riders. And of course, it’s not a long-range bike.
But even despite its shortcomings, it’s great at what it is designed to do. This is a commuter electric motorcycle, through and through, and it has to be judged through that lens. I’d rather ride the Metacycle any day of the week, experiencing the world around me, than be commuting in a car watching the world go by like a rerun on TV.
It feels so light and so easy to ride. I mean it when I say that it’s probably the best electric motorcycle out there right now for easing an e-bike rider looking to enter into the world of e-motorcycles. It’s a transition bike.
It’s got some stiff competition on the horizon though. Bikes like the Ryvid Anthem and the CSC RX1E are a few thousand bucks more expensive but offer their own compelling cases. And with the SONDORS current order books looking like it might take a year or more to fulfill outstanding reservations, those other bikes could be preparing to eat the Metacycle’s lunch sooner rather than later.
But assuming SONDORS can deliver, then I think the Metacycle is definitely going to have its place in the light electric motorcycle market.
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Environment
China’s 3GW Gobi Desert solar farm can power 2 million households
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November 16, 2024By
adminChina just connected its largest single-capacity solar farm built on a former coal mining area, which is in the Gobi Desert, to the grid.
The Mengxi Blue Ocean Photovoltaic Power Station, located in Otog Front Banner, Ordos, Inner Mongolia, came online on November 5. With a massive installed capacity of 3 gigawatts (GW) and over 5.9 million solar panels, the plant will generate around 5.7 billion kilowatt-hours of electricity annually – enough to power 2 million households.
This huge project will save about 1.71 million tons of standard coal each year and cut carbon dioxide emissions by roughly 4.7 million tons, which is equivalent to planting 62,700 hectares (around 155,000 acres) of trees.
Built on coal mining subsidence land, Mengxi Blue Ocean is part of China’s national West-East Electricity Transfer Project, which brings investment and development to western China west while supplying the growing need for electricity in the eastern provinces.
The solar farm includes the country’s first large-scale outdoor solar testing base in the Gobi Desert climate, demonstrating the potential for large solar installations in challenging environments.
The power station makes use of new rare earth alloy grounding materials, cutting costs by 40%. It also replaces traditional concrete foundations with steel to minimize impact on the local grassland ecosystem.
Chuang Xihong, deputy director of the Engineering Construction Department of Guodian Power Group, CHN Energy’s parent company, explained that Mengxi Blue Ocean is an agrivoltaic project as well [via PV Tech]:
Fine forage and sand-fixing plants are planted under the PV modules, providing grazing for Australian White Sheep and chickens. A composite ecological development model will be established where PV power generation and breeding will go hand in hand.
Read more: China powers up the world’s largest open-sea offshore solar farm
If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*
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Environment
Here’s a look inside the Three Mile Island nuclear power plant
Published
3 hours agoon
November 16, 2024By
admin
Operations at Three Mile Island are poised to restart in four years, the latest sign that the nuclear power industry is undergoing a major turnaround after a wave of plant closures.
The Unit 1 reactor at Three Mile Island, which entered service in 1974, was permanently shut down in 2019 due to economic pressure as nuclear power struggled to compete against natural gas. But the tech sector’s growing power needs are breathing new life into the industry.
Constellation Energy plants to restart Unit 1 in 2028 through an agreement with Microsoft to help power the tech company’s data centers. The plant will be renamed the Crane Clean Energy Center — after Chris Crane, the late CEO of the plant’s former owner, Exelon — and its restart is subject to approval by the Nuclear Regulatory Commission.
The Department of Energy said Unit 1 operated safely and efficiently before being shut down five years ago. However, it lies within walking distance of the site of the worst nuclear accident in U.S. history. The Unit 2 reactor suffered a partial meltdown in 1979 and has not operated since the accident. It is being decommissioned by its owner, Energy Solutions.
Constellation’s chief generation officer, Bryan Hanson said Unit 1 is in good condition and the restoration will mostly involve typical maintenance work.
Here is a look at the plant’s main control room, the turbine deck that houses the main power generator, and the facility’s iconic cooling towers. For more on the restart click here.
Main control room
The control panel in the main control room of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Constellation’s chief generation officer, Bryan Hanson, inside the main control room of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Telephones in the main control room of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Part of the main control room of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Part of the main control room of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Turbine deck
Part of the turbine deck of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Part of the turbine deck of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Electrical panels on the turbine deck of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Part of the turbine deck of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
A desk on the turbine deck of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Cooling towers
A detail of two cooling towers at the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Power lines and a cooling tower at the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Detail of a cooling tower at the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Cooling towers at the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
— CNBC’s Danielle DeVries contributed to this report.
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Environment
Three Mile Island restart could mark a turning point for nuclear energy as Big Tech influence on power industry grows
Published
3 hours agoon
November 16, 2024By
admin
Cooling towers at the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
MIDDLETOWN, Pa. — The owner of the Three Mile Island nuclear power plant is embarking on an ambitious plan to restart operations before the end of the decade, marking the latest chapter in the history of a plant that symbolizes the future promise, past struggles and lingering fears of nuclear energy in the United States.
The twin cooling towers that stretch hundreds of feet above the Susquehanna River just south of Middletown, Pennsylvania, went dormant in 2019 after billowing water vapor into the sky for four decades. Its owner at the time, Exelon, permanently shut down the Unit 1 reactor, citing “severe economic challenges.”
Unit 1 is one of a dozen reactors that closed in the U.S. over the past decade as nuclear industry struggled to compete against cheap and abundant natural gas. But the fortunes of the industry have shifted dramatically this year as deep-pocketed technology companies turn to nuclear power to meet the tremendous electricity consumption of their future business: artificial intelligence.
Constellation Energy, the plant’s current owner, plans to restart Unit 1 in 2028, subject to monitoring and approval by the Nuclear Regulatory Commission. Constellation, headquartered in Baltimore, spun off from Exelon in 2022; it has the nation’s largest fleet, or group, of nuclear power plants, operating 21 of the 94 reactors in the U.S.
“This is a plant that we ran and ran very well,” plant manager Trevor Orth told the NRC at an Oct. 25 meeting. “We shut it down. We understand how we shut it down, and we have a good idea of how we’re going to restart this.”
The main control room of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
While Constellation will restore the plant, it will ditch the name Three Mile Island. The plant will be rechristened the Crane Clean Energy Center, after the late CEO of Exelon, Chris Crane. Constellation said the restart will cost $1.6 billion, financed by the company’s own funds.
(Take a deeper look inside the Three Mile Island nuclear power plant here.)
Microsoft has made the restart of Unit 1 possible through an agreement to purchase the full electricity output from the plant for 20 years, a sign of the growing role the tech sector is playing in shaping the future of the U.S. power industry.
Microsoft said the agreement is part of its strategy of meeting the growing electricity needs of its data centers with power that is free of carbon dioxide emissions in an effort to mitigate the impact of its business on the climate.
Part of a control panel at the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Those data centers are playing a critical role in the U.S. economy, housing servers that run the cloud computing that businesses and consumers now rely on for life’s digital daily tasks. They are also essential for the development of artificial intelligence, technology that is viewed as critical for the nation’s future economic competitiveness and national security.
With four years until the planned restart, one of the big uncertainties is whether Constellation can deliver the power to Microsoft on time. Nuclear projects are notoriously plagued by long delays, big cost overruns and cancellations. But Unit 1 is in good condition and Constellation is confident the plant will restart on schedule, said Bryan Hanson, the company’s chief generation officer.
Most of the restoration at Unit 1 will be normal maintenance work that Constellation conducts regularly on its fleet of nuclear plants, Hanson said during an Oct. 30 tour of the plant.
“Not an ounce of concrete needs to be poured, not one piece of rebar needs to be tied, not one cable needs to be pulled. The infrastructure is here,” the executive said. “The challenge of delays — I don’t see it.”
A control panel in the main control room of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Constellation’s decision to restart Three Mile Island follows Holtec International’s decision to restart its Palisades nuclear plant in Michigan. Palisades is poised to become the first reactor to restart operations in U.S. history in 2025 after shutting down.
Holtec has plans to nearly double the power capacity of the facility in the 2030s by building two small modular reactors, next-generation technology that promises to make nuclear plants less costly and easier to deploy.
Amazon and Alphabet’s Google recently announced investments in small modular reactors.
While Constellation has not committed to building a small modular reactor at any of its plants yet, Hanson said the company is open to working with the tech sector to build new nuclear reactors in the U.S.
“If our customers come to us again, like a Microsoft, and say ‘we want to help you build new nuclear’ — we’ll probably join hands and figure out a way to do that,” Hanson said.
Lingering fears
Unit 1 is a short walk from the site of the worst nuclear accident in U.S. history.
The partial meltdown of the Unit 2 reactor at Three Mile Island in 1979 had a chilling effect on the development of new nuclear plants in the U.S. Unit 2 has not operated since the accident and is being decommissioned by its current owner, Energy Solutions, a private nuclear services company.
Unit 1 operated safely and efficiently before it was shut down for economic reasons, said Mike Goff, acting assistant secretary for the Office of Nuclear Energy at the Department of Energy.
But Pennsylvania state Rep. Thomas Mehaffie said his constituents have mixed feelings about the restart of Unit 1, particularly those who are old enough to remember the accident at Unit 2.
Pennsylvania state Rep. Tom Mehaffie speaks in front of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
“Of course people who were here during that time frame, who are older — there is concern. There always has been concern,” said Mehaffie, who represents the communities around Three Mile Island at the state legislature in Harrisburg. Mehaffie’s father was a union electrician who helped build the nuclear plants.
Hanson said the nuclear industry has learned from this chapter of its history.
“The 1979 accident taught us that our standards weren’t right at the time,” Hanson said. The U.S. nuclear industry today has the best safety, reliability and operational standards in the world, he said.
While some constituents have concerns, others see the economic value that the restart will bring, Mehaffie said. The restart of Unit 1 will bring an estimated 3,400 jobs to the region, according to a study by the Pennsylvania Building & Construction Trades Council.
Grid reliability
The planned restart of Three Mile Island is also a step to help ensure the region’s electric grid remains reliable, Mehaffie said. Unit 1 will bring back 835 megawatts of carbon-free electricity, equivalent to the consumption of more than 600,000 homes, at a time when the grid is on the brink of faltering.
Electricity demand is outpacing supply, as power plants, particularly those that run on coal, are retired faster than new capacity is built, grid operator PJM Interconnection warned in July. PJM operates the grid in Pennsylvania and 12 other states.
“Grid reliability is everything,” Mehaffie said.
PJM has forecast that electricity demand will surge nearly 40% by 2039 due to the expansion of data centers, manufacturing and the electrification of industry and transportation. Meanwhile, 40 gigawatts of power generation is at risk of retirement by 2030; that’s about 21% of PJM’s installed capacity.
“We’re seeing potentially catastrophic early retirements of dispatchable resources,” Mark Christie, a commissioner at the Federal Energy Regulatory Commission, said during a public hearing Nov. 1.
A cooling tower at the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Federal energy regulators are worried that tech companies’ pursuit of deals that redirect power from the electric grid directly to their data centers could exacerbate supply shortages and threaten grid stability.
Microsoft said the electricity it will be purchasing from Unit 1 will feed into the grid and will not directly power its data centers. Microsoft is committed to bolstering the grid as it secures power for its data centers, said Alistair Speirs, senior director of global infrastructure for Microsoft’s Azure cloud platform.
“When we operate in the community, if we’re not stabilizing, adding resiliency to the grid, then it’s hard for us to keep our social license to operate,” Speirs said.
Microsoft is not involved in the physical restoration of the plant, Hanson said, but Constellation is providing status reports to the company.
Restoration and restart timeline
Constellation laid out how it plans to restart the plant in the company’s first public meeting with the Nuclear Regulatory Commission on Oct. 25. While Wall Street is generally bullish on the restart, Citi has cautioned that Constellation could face challenges in completing the project on schedule.
“Given the regulatory and physical challenges, we assume that [Constellation] is likely to experience some delays and cost overruns to execute on the restart,” Citi analyst Ryan Levine told clients in an Oct. 14 note.
Citi initiated coverage of Constellation with a neutral rating in October on delay concerns. Constellation’s stock has gained more than 90% since the start of the year and 12% since the Three Mile Island restart was announced Sept. 20.
Levine is an outlier. The vast majority of analysts rate the stock a buy or strong buy, with the average price target predicting more than 23% upside.
The turbine deck of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Hanson said crucial and expensive equipment such as the steam generators and main power generator have undergone inspection and maintenance by Constellation and are in good condition.
The steam generators were replaced in 2009 and are ready for restart, he said. The internals of the main power generator, built by General Electric nearly 50 years ago, were replaced a little over a decade ago, he said. The main generator has been cleaned and needs some routine maintenance, he said.
The plant’s main power transformers need to be replaced at a cost of $75 million to $100 million, Hanson said. The transformers are on order with delivery expected in late 2026, he said.
One of the cooling towers has been gutted and will be refurbished. The analog control room will remain the same with the exception of some rewiring, Hanson said.
The simulator that mimics the control room also needs to be restored so plant operators can be trained there. One of the most critical items for restoring plant operations is training operators for NRC certification, a process that takes about 18 months, Hanson said.
The turbine deck of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Constellation is currently prohibited from operating and loading fuel into the reactor vessel because the plant was permanently shut down. Constellation plans to file an exemption request in November that would remove these restrictions if approved by the NRC.
“That will officially mark the start of our restart activities,” Dennis Moore, senior manager of licensing at Constellation, told the NRC.
Constellation plans to file a request to change the plant’s name from Three Mile Island to the Crane Clean Energy Center in February. Later in 2025, Constellation will submit filings on the plant’s technical specifications, environmental impact, emergency plan, and site security plan for NRC review, the company said.
Constellation intends to send an operational readiness letter to the NRC by July 2027. The company would then begin testing and return to power if the NRC determines that the plant is ready to operate and authorizes placing fuel in the reactor.
In the meantime, Constellation does not need NRC permission to “start turning wrenches and doing restoration work” at the plant, said Scott Burnell, a spokesperson for the regulator. The NRC will be monitoring the work to make sure the regulator’s requirements are met, Burnell said.
The restarts at Three Mile Island and Palisades will likely secure NRC approval, Goff said.
“They are an independent agency, but I expect if the safety cases are presented, they’re going to approve it,” Goff told CNBC in September.
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