Nuclear Energy Industry Report
Executive Preview – SEQH Capital Partners
Nuclear Investment Thesis Q4 2025
AI-driven data-center load will nearly triple to 49 GWh/hr by 2035; only nuclear delivers 24/7 carbon-free power at 90 %+ capacity factor.
U.S. corporate PPAs signed 20.5 GW of new nuclear in 12 months (43 % of all clean-energy deals); tech giants are co-funding SMR developers to lock in supply.
Federal policy target: quadruple U.S. nuclear to 400 GW by 2050; NRC timelines cut to ≤18 months, IRA/DOE loan guarantees de-risk cap-ex.
Russian uranium ban (Dec 2027) and HALEU incentives reshore the entire fuel cycle; domestic U miners first in line for price upside.
LCOE for new U.S. large-scale reactors falls to $44–$71/MWh at 3–7 % WACC; SMRs reach $60/MWh average and enable 18–37 yr payback vs 21–48 yr for AP1000-scale builds.
Existing fleet (20 % of U.S. electricity, 55 % of carbon-free) offers low-capex life-extensions and uprates, generating cash to fund new-build pipeline.
Global COP28 pledge to triple nuclear by 2050 opens $1 trn+ export market for U.S. advanced reactors and services.
