Top Energy Stocks to Invest in Immediately
In the rapidly evolving landscape of renewable energy, one company stands out as a pioneer in the development and deployment of small modular reactor (SMR) technology – NuScale Power. By mid-2025, SMR technology has reached a significant inflection point globally, with at least six major approvals or construction starts in countries including the US, Canada, the UK, China, and the Middle East [1].
NuScale Power, based in the US, has emerged as a leading player in this sector. The U.S. Nuclear Regulatory Commission (NRC) recently approved NuScale's uprated 250 MWt (77 MWe) SMR design in May 2025, building on its earlier 50 MWe design approval from 2020 [2][5]. This approval enables NuScale to scale its offerings modularly, from single 77 MWe units to larger arrays producing up to 924 MWe, combining passive safety features with modular flexibility attractive to utilities, data centers, and governments aiming for decarbonization [2].
The US Department of Energy (DoE) is advancing SMRs aggressively, with plans to have at least three SMRs running by mid-2026 at the Idaho National Laboratory testing facility, which includes NuScale’s technology among others [3]. This momentum is supported by executive actions streamlining regulatory hurdles to accelerate SMR deployment [3].
NuScale is also gaining substantial commercial interest from major technology companies such as Meta, Microsoft, Alphabet, and Oracle, which are committed to carbon-free energy sources to power their rapidly growing data centers. Data center energy demand is projected to triple by 2028, accounting for a significant share of U.S. electricity use, making NuScale’s consistent and carbon-free SMR technology particularly well-suited to meet this need [4].
In addition to these strategic partnerships, NuScale has forged partnerships with manufacturing and energy firms like Doosan Interability and ENTRA1 Energy to advance the commercialization and deployment of their SMRs [4].
While NuScale Power has made significant strides, it still faces execution risks common in the nuclear industry, including project delays and cost management challenges, which investors and stakeholders watch closely [2].
Meanwhile, in the traditional nuclear energy sector, Constellation Energy, the largest US producer of carbon-free electricity, primarily through nuclear facilities, continues to lead the way. The company has recently secured power purchase agreements with tech giants Microsoft and Meta Platforms [6].
Investors seeking a pure play in the nuclear renaissance may find Cameco appealing. As one of the world's largest uranium producers, Cameco benefits from long-term contracts with price escalation clauses and owns stakes in high-grade assets such as Cigar Lake and McArthur River [7]. Spot uranium prices are rising and geopolitical concerns are limiting supply, particularly from Russia and Kazakhstan, positioning Cameco for strong margin expansion [8].
Chevron, an oil and gas giant, offers investors a way to capitalise on rising oil prices with stability in exploration, production, refining, and marketing. In the past 12 months, it spent $11.8 billion on dividends and $16.1 billion on stock buybacks [9]. Enterprise Products Partners, a midstream master limited partnership with a vast network of pipelines, storage facilities, and processing assets for oil, natural gas, and natural gas liquids, currently yields over 6.9% [10]. Its contract and fee-based revenue model offers strong visibility into future cash flows and helps shield the company from commodity price fluctuations.
Constellation Energy's clean energy profile appeals to clean energy investors, and it's exploring hydrogen and storage as long-term growth avenues [11]. Enterprise Products Partners is also expanding, with ongoing expansion projects in petrochemicals and export terminals. Cameco, on the other hand, has significant uranium deposits in Saskatchewan and Australia, allowing it to expand as demand for nuclear energy grows [7].
Cameco is contracted to provide an average of 28 million pounds of uranium annually through 2029 [7], while NuScale Power is developing an SMR power station in Romania, targeting a launch date of 2029 [4].
In conclusion, the nuclear energy sector is witnessing a resurgence, with companies like NuScale Power and Constellation Energy leading the charge in their respective fields. Meanwhile, Cameco and Chevron provide investors with opportunities to capitalise on the growth in the traditional and next-generation nuclear energy sectors. Enterprise Products Partners, on the other hand, offers a stable investment in the oil and gas sector with a focus on petrochemicals and export terminals.
- In the finance sector, investors seeking opportunities in the nuclear renaissance might find Cameco attractive, as it's one of the world's largest uranium producers, with long-term contracts and high-grade assets.
- Technology companies like Meta, Microsoft, Alphabet, and Oracle are showing significant commercial interest in NuScale Power's small modular reactor technology, specifically for powering their rapidly growing data centers.
- The traditional nuclear energy sector is also evolving, with Constellation Energy, the largest US producer of carbon-free electricity, expanding its clean energy profile, exploring hydrogen and storage as long-term growth avenues.
