Trump administration secures $80 billion nuclear reactor deal
A partnership between the U.S. government and three companies—Westinghouse Electric, Cameco, and Brookfield Asset Management—will result in the construction of at least $80 billion worth of new nuclear reactors across the United States.
The ambitious plan, announced on Tuesday, marks one of the most significant U.S. investments in atomic energy for decades, News.Az reports citing The Independent.
This initiative underscores Donald Trump's administration's agenda to maximize energy output, encompassing oil, gas, coal and nuclear. It also comes as growth in artificial intelligence data centers boosts U.S. power demand for the first time in two decades, straining parts of the grid.
Under the agreement with Westinghouse Electric, Cameco and Brookfield Asset Management, the government will arrange financing and help secure permits for the plants using Westinghouse reactors.
In return, the government would be granted a participation interest that, once vested, will allow it to get 20 percent of any cash distributions in excess of $17.5 billion made by Westinghouse, the companies said.
The companies did not say when the U.S. government interest would vest, but added that the government must make a final investment decision and enter agreements to complete construction of the plants.
U.S.-listed shares of Cameco were up more than 21 percent in midday trading.
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