Donald Trump administration backs USD 17.5 billion plan for nuclear revival

WASHINGTON: The Donald Trump administration has unveiled a USD 17.5 billion financing programme to rebuild the US nuclear supply chain and support the construction of 10 new large-scale nuclear reactors. The US Department of Energy (DOE) announced a conditional loan commitment to fund the procurement of long-lead components for 10 reactors based on Westinghouse’s AP1000 design. The financing will support up to five projects, each involving two reactors.

Together, the reactors are expected to generate more than 11 gigawatts of electricity, enough to power nearly 10 million homes. The loans will not fund reactor construction directly. Instead, they will finance critical components such as reactor pressure vessels, steam generators and structural modules, helping accelerate project timelines and reduce costs.

The programme aims to lower costs through standardisation by building multiple reactors of the same design. More than 100 companies across over 40 states are expected to benefit from the supply-chain expansion. To qualify, Westinghouse and each utility or energy-company partner must commit about USD 500 million each in equity before DOE financing becomes available. Seven utilities and energy companies have already signed letters of intent, though only five projects will initially be selected.

The administration says the initiative supports rising electricity demand, including from AI and data centres, while advancing domestic energy production and manufacturing. Nuclear energy currently provides about one-fifth of US electricity and remains the country’s largest source of carbon-free power generation. (IANS)

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