The Tennessee Valley Authority announced Tuesday that it entered into a memorandum of understanding with ENTRA1 Energy to develop up to 6GW of new nuclear generation capacity on TVA sites through the deployment of six ENTRA1 Energy Plants which use NuScale Power (SMR) Modules, UBS tells investors in a research note. While the agreement represents significant upside for NuScale, given the potential for a future firm customer commitment and subsequent progress toward commercialization of the company’s design, UBS remains cautious as the firm awaits further clarity on deal terms. UBS maintains a Neutral rating and $38 price target on NuScale shares.
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