NuScale Power's Stock Could Rise if It Secures TVA SMR Project
Nuclear energy stocks have seen a recent rally, driven by Alphabet’s Google signing a 20-year power purchase agreement with Constellation Energy. This has boosted interest in companies like NuScale Power (NYSE: SMR), an early-stage developer of small modular reactors (SMRs). The U.S. government aims to quadruple nuclear energy capacity by 2050, and SMRs are seen as a key part of this strategy due to their scalability and potential for use in data centers. NuScale’s stock has fallen over 90% from its peak but could see significant gains if it secures a major deal with the Tennessee Valley Authority (TVA). In September 2025, ENTRA1 signed a non-binding agreement with TVA to supply up to 6 gigawatts of power using NuScale’s SMRs. This would be the largest U.S. deployment and could involve as many as 72 Power Modules. NuScale remains an early-stage company with limited commitments for its technology, making it highly speculative. A firm agreement with TVA or other PPAs is seen as a critical next step to validate NuScale’s business model and potentially drive the stock higher.
Topics: data centers nuclear energy NuScale Power small modular reactors (SMRs)