NuScale Energy’s First European Small Modular Nuclear Reactor
NuScale Energy is poised to launch Europe’s first operational small modular nuclear reactor (SMR), a 426-megawatt facility expected to come online in about 7 years. Traditional nuclear power plants can take up to 15 years to complete, but NuScale’s technology offers a potentially expedited timeline, appealing to an era of rising global electricity demand.
The estimated levelized cost of electricity (LCOE) for NuScale’s SMR ranges from $89 to $102 per megawatt-hour (MWh), while solar-plus-battery storage sits at approximately $66 to $92 per MWh. This cost competition will be critical as NuScale aims to generate significant revenue from multiple projects, potentially yielding hundreds of millions if successful.
Despite its promising technology, NuScale reported just $31.5 million in revenue in 2025, primarily from engineering services and government contracts, while incurring a net loss of about $664 million. This underscores the risks for investors, as the first commercial projects may not produce power until the early 2030s.
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