Up 'n' Atom - GEV Sees 5.7GW of Nuclear Agreements, DOE AP1000 Loans, TVA IRP

Research evidence excerpt

Up 'n' Atom - GEV Sees 5.7GW of Nuclear Agreements, DOE AP1000 Loans, TVA IRP

TD SECURITIES (USA) LLC WEEKLY REPORT

July 10, 2026

■Sustainability: Clean Energy Up 'n' Atom - GEV Sees 5.7GW of Nuclear

Agreements, DOE AP1000 Loans, TVA IRP

Marc Bianchi, CFA THE TD COWEN INSIGHT

646 562 1393

GEV's BWRX-300 5.7GW of new deployment agreements, DOE announces loans for AP1000

marc.bianchi@tdsecurities.com

equipment, TVA IRP nuclear cost estimates, and additional news. We note several new updates

Esteban Albarracin to projects in our tracker on pg 3 (X-energy, Rolls-Royce, Oklo, GEV). See pg 6 for a nuclear

646 562 1402 comp sheet, pg 7 for nuclear tech partnerships, pg 8+ for a fact sheet on SMR developers and

esteban.albarracin@tdsecurities.com

pg19 for additional nuclear resources.

Bhairav Manawat

646 562 1353 BWRX-300 Deployment Pipeline Continues to Gain Momentum

bhairav.manawat@tdsecurities.com

GEV-H's BWRX-300 commercial momentum continues to broaden, with recent

announcements pointing to ~5.7GW of potential deployments. Based on our count, the current

total pipeline of deployment agreements announced for the BWRX-300 is now over 19GW.

SGE announced plans to deploy up to 14 BWRX-300 reactors in the UK, representing 4.2GW

with FID targeted by 2030 and COD by 2034 for the first unit. The consortium includes GEV-

H, Samsung C&T, Laing O'Rourke, Aecon, Fermi Dev., Etara, and Google Cloud, with SGE

indicating Google could potentially play a broader investment role.

Separately, the U.S. announced an industry initiative involving GEV, Hitachi, Samsung C&T,

and SGE to support BWRX-300 deployment across Europe. This was announced alongside

a broader U.S., Japan, and SK agreement focused on accelerating SMR deployments in the

Indo-Pacific region.