Westinghouse is partnering with The U.S. Department of Energy’s Office of Energy Dominance Financing (EDF) under the American Nuclear Supply Chain Loans program to enable U.S. supply chain investments and accelerate fleet deployment of new nuclear in America.
Central to the partnership is a conditional commitment of a $17.5 billion loan by EDF to finance the purchase of long-lead time items (LLI) for up to 10 AP1000® units, the only fully designed and licensed advanced reactor operating in the United States today. Advance purchase of LLI can accelerate project deployment timelines by up to three years and create significant supply chain efficiencies.
“Just over one year ago, President Trump directed the Energy Department and its agency partners to unleash the next American nuclear renaissance. To accomplish that mission, these conditional loans will play an important role in reviving the supply chain needed for America to once again build large-scale commercial reactors. They will also help accelerate the timeline of building those large-scale reactors by up to three years, lowering construction costs and ensuring the United States is able to deliver on President Trump’s bold and ambitious energy addition agenda.”
— Chris Wright, Secretary, U.S. Department of Energy
“America has always won when it thinks big and builds for the future. If we want to lead in artificial intelligence, advanced manufacturing, and the industries that will define the next century – we need more American baseload energy. This means building industrialized nuclear power at fleet scale, creating long-term economic growth, thousands of high-quality jobs, strengthening supply chains and revitalizing communities. We thank the Administration and the Department of Energy for their commitment and leadership on this strategic initiative.”
— Dan Sumner, President and Chief Executive Officer, Westinghouse
“Westinghouse continues to be at the forefront of major public and private partnerships that will materially accelerate the build-out of large-scale nuclear power generation, help meet growing energy demand, and support energy security in the U.S. The loan facilities help advance President Trump’s Executive Order and serves as a catalyst for nuclear, providing the certainty needed to enhance the domestic nuclear supply chain and accelerate construction of nuclear projects that will deliver reliable baseload power around the country for decades to come.”
— Connor Teskey, Chief Executive Officer, Brookfield Asset Management
“We are pleased to see the US government make this additional commitment to expanding nuclear power capacity using the proven AP1000 reactor technology. When combined with the May 23, 2025 Executive Orders and other US government initiatives, we believe the right incentives are being created to advance the rapid deployment of AP1000 reactors in the US. The expansion of nuclear power in the United States is expected to create significant opportunities for Westinghouse and Cameco, accelerating growth in Westinghouse’s energy systems segment during the procurement and subsequent construction phase.”
— Tim Gitzel, Chief Executive Officer, Cameco
Westinghouse Electric Company is the future of energy, providing reliable, innovative nuclear technologies and services globally. Westinghouse pioneered commercial nuclear power, delivering the world’s first commercial pressurized water reactor in 1957. The company has industrialized more nuclear reactors than any other company, with its technology forming the basis of half of the world's operating nuclear plants. More than 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit westinghousenuclear.com and follow us on Facebook, LinkedIn and X.
Brookfield Asset Management Ltd. (NYSE: BAM, TSX, BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit. This includes more than $550 billion invested in the United States, supporting more than 75,000 American jobs.
We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. We draw on Brookfield’s heritage as an owner and operator to invest for value and generate strong returns for our clients, across economic cycles. For more information, please visit our website at bam.brookfield.com.
Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.
