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NuScale eyes a TVA power purchase agreement for SMR project
The utility has agreed to pursue a 6-gigawatt SMR system, but NuScale is still waiting for any firm financial commitment.
NuScale Power is betting that the next major step for its small modular reactor, or SMR, business could come from a power purchase agreement with a major customer, which would help move approved designs toward construction. Yahoo Finance notes the company remains the only U.S. nuclear developer approved by regulators to build an SMR system, but it has not yet commercialized its designs.
The article says NuScale expects a PPA could be signed later this year after earlier commentary from the company’s CFO pointed to the Tennessee Valley Authority, or TVA, as a potential counterpart. Under a PPA, the utility would commit to buying electricity from the SMR system at a set price over years, which would underpin financing and construction timelines.
TVA has agreed to pursue a 6-gigawatt SMR system, but it has not made any firm financial commitments yet, leaving the timing of a PPA uncertain. Yahoo Finance adds that NuScale shares have fallen 40% in 2026, and the piece argues that a concrete customer commitment would be a bigger potential catalyst for sentiment than broader, long term nuclear demand tied to data center growth.
The article concludes that it remains to be seen whether a PPA is signed this year, but if it happens it could materially influence NuScale’s near term stock outlook by validating its project pipeline.