The U.S. Nuclear Regulatory Commission has approved construction of a next-generation nuclear power plant backed by Bill Gates in the state of Wyoming.

The project, being developed by TerraPower, will deploy its Natrium reactor technology and marks the first approval for a commercial nuclear reactor in the United States in nearly a decade.

The planned plant will be located in Kemmerer near a retiring coal-fired power station and is expected to begin operating in the early 2030s. The reactor will generate about 345 megawatts of electricity, with an integrated energy storage system capable of increasing output to around 500 megawatts during periods of high demand.

Unlike conventional nuclear plants that rely on water as a coolant, the Natrium design uses liquid sodium, allowing the reactor to operate at lower pressure while reducing some of the infrastructure typically required in traditional reactor designs.

The project is being supported through the U.S. Department of Energy under its Advanced Reactor Demonstration Program, which is intended to accelerate the development of new nuclear technologies. The initiative could provide up to $2 billion in funding for the project.

TerraPower plans to begin construction in the coming weeks and will later apply for an operating licence from the regulator before the facility can start producing electricity.

The Natrium project forms part of broader efforts to develop advanced nuclear reactors designed to be more flexible, efficient and cost-effective as countries seek reliable low-carbon energy sources.