The firm says that the number of deals increased by 10%, from 40 to 44, and says that “at the current pace of dealmaking activity, 2026 is set to surpass all years aside from 2024 when a record USD29 billion of M&A activity was registered”.
It says that the drivers behind the figures are, firstly, the increased demand for reliable, baseload – and low-carbon – power for data centres, especially with the rapid growth of AI.
Secondly, governments are seeing nuclear as a way to increase energy security and enhance economic competitiveness, with regulatory frameworks evolving to deploy new nuclear, especially advanced nuclear technologies.
Thirdly, it cites the emergence of new funding models, “including public-private partnerships, state support and innovative risk-sharing mechanisms”.
Together, these changes are helping to open up new opportunities for M&A activity throughout the nuclear energy value chain, the global law firm says.
Simon Stuttaford, Partner in the Project Development and Finance Group and Global Energy Industry Group at White & Case, said government policy support was providing greater certainty for investors, adding: “We’re seeing a convergence of factors that is driving a sustained increase in global nuclear dealmaking which only appears likely to accelerate.”
Ximena Vasquez-Maignan, Nuclear Practice Lead at White & Case, said: “Financing models are becoming more sophisticated with growing collaboration between the public and private sectors helping to allocate risk more effectively and improve project bankability.”
According to the data, which was produced in partnership with Mergermarket, the European, Middle East and Africa region saw an aggregate increase in deal values from USD1.2 billion in the first half of 2025 to USD3 billion in the first half of this year.
