Nuclear Power
Nuclear power operations and advanced reactor development. — targeting a net IRR of 13–18% across contracted, operator-led energy assets.
Investment thesis
Fund 8 invests in nuclear power operations and advanced reactor development, the leading candidates to supply firm, dispatchable, carbon-free baseload power. The investment case rests on contracted offtake, credible regulatory pathways, and experienced developers or operators. We underwrite existing operating assets on their contracted cash flows and stage capital in advanced reactor development against permitting and construction milestones, pricing technology risk accordingly.
Target asset types
- Operating nuclear power plant interests and life-extension projects
- Small modular reactor (SMR) development
- Advanced reactor designs at sites with existing interconnection
- Nuclear fuel cycle and services infrastructure
Anchor SMR Development Program
A small modular reactor development program sited at a retiring coal plant with existing interconnection, backed by contracted offtake commitments from an investment-grade utility and a staged capital deployment plan tied to regulatory and construction milestones.
Representative, illustrative profile of the asset type this fund targets. Not an offer, commitment, or existing holding.
Vehicle summary
We size each fund to the durability of its cash flows, not the appetite of the moment. Concentration follows conviction, and conviction follows underwriting.Alzaro Energy Investment Committee
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