The US Department of Energy (DOE) has announced up to $17.5 billion in conditional loans to help utilities and energy companies secure critical components for new nuclear power plants, aiming to strengthen the domestic nuclear supply chain and accelerate reactor construction.
Energy Secretary Chris
Wright said the initiative could help the US achieve its target of having 10
large-scale nuclear reactors under construction by 2030, potentially reaching
that milestone three years earlier than planned.
The funding will
support the purchase of long-lead items such as reactor vessels and steam
generators, which often take years to obtain.
The DOE’s Office of
Energy Dominance Financing will back up to five projects, each involving two
1.1 GW Westinghouse AP1000 reactors.
Utilities and energy
companies partnering with Westinghouse must each invest at least $500 million
before accessing federal funds.
The move comes as
electricity demand rises sharply due to the expansion of AI-driven data centres.
Wright said the
programme has attracted strong interest from major technology companies and
energy firms.
The initiative follows
a broader federal push to expand nuclear power under President Donald Trump’s
goal of quadrupling US nuclear capacity to 400 GW by 2050.
Industry leaders say
the loans could revitalize domestic nuclear manufacturing, improve supply chain
certainty, and speed the deployment of reliable, carbon-free baseload power
nationwide. -OGN/TradeArabia News Service
