Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTRyan Vanzo, The Motley FoolSat, July 25, 2026 at 12:40 PM GMT+2 4 min readIt's been a tough year for NuScale Power (NYSE: SMR) investors. Since 2026 began, shares of the popular nuclear energy stock have fallen by roughly 45%.NuScale's market cap is now down to just $3.2 billion. That looks like a bargain compared to the company's growth potential. Bank of America believes nuclear energy will be a $10 trillion opportunity in the coming decades. Small modular reactors, or SMRs -- the exact nuclear technology that NuScale specializes in -- are expected to take a big share of that opportunity.Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »NuScale's stock price has struggled in 2026 for several reasons. The biggest, perhaps, has been a lack of tangible catalysts. NuScale has several impressive opportunities in its project pipeline, but there hasn't been much traction in converting these deals into revenue-generating assets.NuScale's biggest project is a 6 GW system intended for the Tennessee Valley Authority (TVA), a major utility serving the eastern U.S. The deal between NuScale and TVA was signed in September 2025. At the time, NuScale's stock price hovered around $40 per share. At least from a headline perspective, there has been little progress on the deal since, sending NuScale's stock price below $10 earlier this month.But there's good news: A major catalyst for NuScale's TVA project should be arriving soon. This catalyst is so meaningful that it wouldn't be surprising to see NuScale shares double as the catalyst approaches.Right now, the deal between NuScale and TVA is largely non-binding. The next step would be to sign a power purchase agreement (PPA). This agreement would commit TVA to buy power from NuScale's SMR system at a predetermined price for years, or even decades, to come. In short, it guarantees that NuScale will generate revenue from the nuclear project, allowing it to begin construction.Image source: Getty Images.In May, NuScale's management team noted that it remains very bullish on signing a PPA agreement with TVA by the end of 2026."ENTRA1 [NuScale's financing partner, which will be the party that actually signs the PPA with TVA] has updated us the discussions with TVA are advancing well toward a definitive PPA," NuScale's CEO revealed on a call with investors. "We remain highly encouraged by the progress and the strategic alignment between ENTRA1, TVA, and NuScale."Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info