Note: Single-source report; awaiting corroboration.
The U.S. Department of Energy’s Office of Energy Dominance Financing (EDF) has issued a conditional loan commitment of $17.5 billion to finance the procurement of long-lead time items needed to rebuild America’s commercial nuclear supply chain. This funding will support five projects from utilities and energy companies, aiming to accelerate the deployment of 10 AP1000® large-scale commercial nuclear reactors nationwide by up to three years.
The projects align with President Trump’s Executive Order to reinvigorate the nuclear industrial base, supporting the goal of constructing 10 new large nuclear reactors by 2030. The AP1000® reactors, each generating about 1.1 gigawatts of power, are currently the only licensed large-scale advanced commercial reactors operating in the U.S.
The funds will support up to five loans, each covering two reactors per project site. Westinghouse will work with utilities and energy companies to procure required long-lead time components at fixed prices. To access the loans, each project requires a full upfront equity commitment of $500 million from Westinghouse and its partner, totaling $1 billion, with purchasing timed according to equity and other factors.
Westinghouse has signed letters of intent with seven potential partners that have identified project sites. The combined output from these reactors is estimated to power nearly 10 million American homes. The loan structure seeks to provide critical financing to restart the U.S. nuclear industry and revitalize the domestic supply chain.