SMR
Small Modular Reactor
Small Modular Reactor (SMR) is a factory-built reactor <300 MWe, scalable by modules for incremental deployment.
SMRs reduce CAPEX via modularity, serial production; power 5-300 MWe. Designs: LWR (NuScale), HWR, fast spectrum. NRC certified NuScale VOYGR (77 MWe/module) 2023. >80 concepts; target FOAK 2028-2030.
Why it matters now
SMRs key to 2025-2026 data center PPAs (e.g., Microsoft-Constellation). Licensing advances like VOYGR, BWRX-300 Ontario approval drive investment.