Nuclear Stocks Rally. NuScale Power up 14%; Nano Nuclear up 4%; Oklo up 3%

Nuclear stocks rose in Wednesday trading. NuScale Power up 14%; Nano Nuclear up 4%; Oklo up 3%; Centrus up 2%; Energy Fuels up 1%.

NuScale Power rose after the Tennessee Valley Authority said it signed an agreement with ENTRA1 Energy - a strategic partner of NuScale - to develop up to 6 GW of new nuclear power on several sites throughout the utility's region, in the largest U.S. small modular reactor deployment program so far.

ENTRA1 said it plans to deploy small modular reactors developed by NuScale inside its energy plants, aiming to provide enough energy to power the equivalent of 4.5M homes or 60 new data centers; all power is expected to be sold to TVA under future power purchase agreements, although it is not known when ENTRA1 expects to have its plants operational.

The agreement is TVA's latest effort to bring as much new nuclear energy online as quickly as possible; it is working with Google and Kairos Power to connect 50 MW of small modular reactor capacity to the grid by 2030, and planning to build its own SMR at its Clinch River nuclear site in Tennessee.

"This agreement with ENTRA1 Energy highlights the vital role public-private partnerships play in advancing next-generation nuclear technologies that are essential to providing energy security," TVA President and CEO Don Moul said.