PPL Corporation (NYSE:PPL) is one of the high growth utility stocks to buy according to analysts.
On April 30, PPL Corporation (NYSE:PPL) subsidiaries Louisville Gas and Electric Company and Kentucky Utilities entered into a strategic partnership with X-energy Inc. (NASDAQ:XE)
The companies are joining forces to explore the potential deployment of X-energy’s Xe-100 small modular reactor to generate nuclear energy. The push comes amid growing demand for long-term, reliable, clean energy. Consequently, they have begun feasibility activities and will explore opportunities for small modular reactor deployments to support long-term grid reliability.
The PPL Corporation subsidiaries seek to capitalize on Kentucky’s push for nuclear energy to meet its growing energy needs. The companies are also open to working with hyperscalers on the effort. The state’s governor, Andy Beshear, has already passed into law a Nuclear Reactor Site Readiness Pilot Program that includes a $75 million grant initiative to support nuclear site feasibility studies.