NuScale Power Nears Tennessee Valley Reactor Agreement

NuScale Power is progressing in discussions regarding a nuclear framework agreement with the Tennessee Valley Authority (TVA). On the company's second-quarter earnings call on August 5, 2026, CEO John Hopkins said management is extremely encouraged by talks with the TVA and partner ENTRA1 Energy. Hopkins noted that discussions were progressing well and that the company would be ready to implement once an agreement is signed.

In September 2025, the TVA signed an initial agreement with ENTRA1 Energy to develop plants supplying up to 6 gigawatts of electricity. Under the plan, ENTRA1 would construct the facilities while NuScale Power would supply its small modular reactors. If completed, the plants would supply enough electricity for roughly 4.5 million homes or 60 data centers, boosting total United States nuclear capacity of 97 gigawatts by about 6.2%.

The framework remains non-binding, with no power purchase agreement signed and no construction underway. For the second quarter, NuScale Power posted revenue of $75,000, falling from $8.05 million in the prior-year period. The firm held approximately $1.9 billion in cash on its books, while its shares have dropped about 75% over the past 12 months following a recent downgrade by a UBS analyst.