$17.5 Billion Committed for Westinghouse Reactors

By Ahmed Jamerson • Wednesday, June 24 10:46 • Permanent Link

The U.S. Department of Energy has conditionally committed $17.5 billion in loan facilities to support Westinghouse reactor deployment in the United States.

The financing is aimed at funding long-lead equipment for up to 10 AP1000 nuclear reactors. Under the structure described, the DOE may provide up to five loans, with each loan supporting two reactors.

Brookfield said the package is intended to help eligible utility and energy company partners buy equipment and speed construction and commercial operations by up to three years. The goal is to have 10 reactors under construction by 2030.

Westinghouse is jointly owned by Brookfield and its institutional partners, which hold 51%, and Cameco, which holds 49%. Brookfield said the conditional financing is expected to support the domestic nuclear supply chain and accelerate nuclear project construction. The market has reacted to these announcements by moving the company's shares -2.56% to a price of $45.76. Check out the company's full 8-K submission here.

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