Benzinga | Aug 16, 2021 04:02PM EDT

NuScale Power Inks MOU With Xcel Energy To Explore Potential Plant Operations

* Xcel Energy Inc (NASDAQ:XEL) has signed a memorandum of understanding with NuScale Power, LLC to explore the feasibility of serving as a plant operator at NuScale Plants.

* NuScale develops advanced small modular reactors that are considered the next generation of carbon-free nuclear plants.

* The two parties will examine the potential for Xcel Energy to become NuScale's preferred partner to provide a suite of operational power plant services.

* The MOU creates a framework for negotiating definitive agreements for Xcel Energy and NuScale to work together.

* NuScale Power and Xcel Energy agree to examine future partnerships.

* Price Action: XEL shares are trading higher by 1.12% at $69.815 on the last check Monday.