Navigating Nuclear: New Nuclear Regulations Expand Opportunities for Foreign Ownership and Investment

On 23 April 2026, the Nuclear Regulatory Commission (NRC) drastically changed its requirements for foreign ownership and investment of nuclear facilities—opening the US market to new potential investment opportunities during a renewed period of focus on nuclear energy. The NRC’s direct final rule¹ implements section 301 of the Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (ADVANCE) Act of 2024 that updated the long-standing limitations on foreign ownership of production and utilization facilities (nuclear reactors) in the United States. 

Prior to the ADVANCE Act, the NRC was prohibited from issuing a reactor license to an entity that “the [NRC] knows or has reason to believe…is owned, controlled, or dominated by an alien, a foreign corporation, or a foreign government.”² This prohibition ultimately resulted in the cancellation of plans to construct additional reactors at Calvert Cliffs Nuclear Power Plant in Maryland, when the US partner in the Unistar consortium pulled out, leaving only the French company EDF as an applicant.³

Under section 301 of the ADVANCE Act and the NRC’s implementing direct final rule, entities from 37 countries, subject to certain sanctions-based exclusions, will now be exempt from the Atomic Energy Act’s foreign ownership, control, or domination provision for utilization facilities. The list of countries includes India and all members of the Organisation for Economic Co-operation and Development (OECD) except for Türkiye.⁴ Issuance of a license to a foreign entity will still require the NRC to determine that the issuance “to that entity is not inimical to the common defense and security or public health and safety.”⁵ 

The rule does not otherwise impact or change any of the NRC’s licensing requirements or procedures. This change provides a significant opportunity for foreign companies to enter the US nuclear market, however, interested companies should be aware that review from the Committee on Foreign Investment in the United States (CFIUS) may still be required depending on the type of investment. The firm’s Nuclear Energy and International Trade practice groups are ready to aid clients in taking advantage of these new opportunities and navigating both the CFIUS and NRC processes.