US, 80 billion USD for nuclear energy - Aims to build new reactors to meet growing demand
The United States government has signed a partnership with Canadian owners of Westinghouse Electric to build $80 billion worth of nuclear reactors. It is one of the most ambitious US plans in decades, highlighting President Donald Trump's agenda to maximize energy production, focusing on oil, gas, coal and nuclear power.
The project comes at a time when the expansion of data centers powering artificial intelligence has increased energy demand in the US for the first time in two decades, putting pressure on parts of the electrical grid.
Under the agreement with owners Westinghouse Electric, Canadian companies Cameco and Brookfield Asset Management, the United States will help finance and secure permits for the new reactors.
In exchange, the U.S. government will receive 20% of future profits after Westinghouse distributes $17.5 billion to Brookfield and Cameco. The government can convert this profit into an equity stake of up to 20% and require Westinghouse to go public by 2029 if its value exceeds $30 billion.
The plan was announced after Trump, who is on a trip to Asia, said in Tokyo that Japan would provide up to $332 billion to support infrastructure in the US, including the construction of Westinghouse's AP1000 reactors and small modular reactors.
Japanese companies such as Mitsubishi Heavy Industries and Toshiba could be involved in building Westinghouse reactors worth up to $100 billion, according to a document on the trade deal.
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