Deutsche Bank analyst Scott Deuschle says “momentum is building” small modular reactors after the governor of Virginia yesterday signed into law SB 454, which allows the state utility to recover the project development costs for a new small modular reactor. Dominion Energy in connection with this issued a request for proposals for a new small modular reactor at its North Anna Power Station, the analyst tells investors in a research note. The firm views Dominion’s announcement as a “solid milestone” toward to development of SMRs in the U.S. BWX Technologies should be well positioned given its $100M of content on the BWRX-300 reactor built by GE Hitachi, which will be one of the leading contenders for a potential build in Virginia, adds Deutsche Bank. The firm has a Buy rating on BWX with a $107 price target.
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