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X-energy, American Electric Power (AEP) and Amazon have announced a Joint Development Agreement to advance feasibility work for a proposed 960 MW Xe-100 small modular reactor project in Indiana. The plan involves a 12-unit Xe-100 plant near the former Breed coal plant site in Sullivan County, which AEP owns and would redevelop as a brownfield site. Amazon will provide certain project development funding, marking the second commercial deployment under its collaboration with X-energy to bring more than 5 GW of new nuclear capacity to the U.S. grid by 2039. Indiana has enacted supportive state policies for SMR deployment since 2025, including investment and manufacturing tax credits.
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American Electric Power (AEP) has announced a joint development agreement with X-energy to evaluate the feasibility of a 960-megawatt advanced nuclear project at a former coal plant site in Sullivan County, Indiana. Amazon is supporting development through a funding agreement. If the project reaches a final investment decision and is built, Amazon intends to buy the power under a long-term contract covering the facility's costs and operations. The initial project would include 12 Xe-100 units of 80 MW each, and the companies say it could create jobs, expand the local tax base and strengthen the grid for more than 60 years. AEP says the agreements include the financial safeguards it considers essential for any nuclear project to move forward.
- Should You Buy NuScale at $6 After the Google Rally? Here's the Next Catalyst That Could Send It Higher.
Google signed a 20-year power purchase agreement with Constellation Energy, and Constellation's stock rose 12% after the October 6 announcement, lifting other nuclear stocks. NuScale Power (SMR), an early-stage developer of small modular reactors, trades below $6 and is largely story-driven. The stock has fallen more than 90% from its peak of about $57, weighed down by weak nuclear stocks, Fluor exiting its stake, and no new commitments for its technology. The article says a firm deal with the Tennessee Valley Authority through ENTRA1's non-binding agreement for up to 6 GW (requiring up to 72 NuScale modules) could be a major catalyst, but without firm commitments the stock may fall further.
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On Oct. 5, 2026, the U.S. Department of Energy announced a conditional loan commitment of up to $4.2 billion to modernize three Vistra nuclear plants in Ohio and Pennsylvania, aiming to add 433 megawatts of capacity and extend their operating lives by 20 years. Vistra shares jumped 11% in a single day on the news. Ongoing Operations Adjusted EBITDA for Q2 2026 rose more than 30% year over year to around $1.8 billion, driven mainly by higher energy and capacity prices and acquired plants. The article stresses that the DOE package is financing, not a grant, so Vistra must meet technical, legal, environmental and financial requirements and repay the loan, and delays or cost overruns could push back payoff. The stock trades at a P/E of about 26, and 18 analysts rate it a Strong Buy.
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