Multiple SMRs represent both a ‘modular’ design concept and a ‘modular’ investment model: multiple SMRs may offer the investor a step-by-step entry in the nuclear market. As long as multiple SMRs are deployed with a staggered schedule, the investor has the option to expand, defer or even abandon a nuclear project, to adjust the investment strategy in order to catch early market opportunity or to edge a market unexpected downturn. The investment involves sequential steps with multiple ‘go’ or ‘not-to-go’ decisions that allow management to respond to changes in the market or in the regulation environment, or to adapt to technological breakthroughs. The risk edging capability of a modular investment such as multiple, staggered SMRs is enhanced compared with a monolithic LR. This flexibility against future uncertainty can be measured by the real option analysis and exploited to face the investment risks (Locatelli et al., 2012).