Virginia could soon be home to one of the first small modular reactor nuclear developments in the country

MINERAL, Va. — The demand for power is growing fast. According to Dominion Energy, the demand is growing by more than 5% annually and is expected to double in the next 15 years.

To keep up, the power company announced a partnership with Amazon on Wednesday.

Amazon and Dominion Energy Virginia have entered into a Memorandum of Understanding (MOU), or an agreement, "to explore new development that would help advance potential Small Modular Reactor (SMR) nuclear development in Virginia", according to a press release.

The development would be near Lake Anna, where there's already a nuclear power plant called North Anna.

Small Modular Reactors, or SMRs are smaller than regular nuclear power plants. According to The Department of Energy they're about one-third of the size.

They're also less costly and need less cooling water. According to the Department of Energy, in an emergency, it shuts down and cools off on its own.

According to Amazon, an SMR would bring at least 300 megawatts of power to the Virginia region, where Dominion projects that power demands will increase by 85% over the next 15 years.

"In alignment with our All-American, All-of-the-Above energy plan, small modular nuclear reactors will play a critical role in positioning Virginia as a leading nuclear innovation hub," said Governor Glenn Youngkin. "Amazon Web Services' commitment to this technology and their partnership with Dominion is a significant step forward to meet the future power needs of a growing Virginia."

Amazon wrote in a release, that they signed three new agreements to support the development of nuclear energy projects, including the one in Virginia with Dominion Energy.