The Department of Energy is putting $17.5 billion in low-interest loans behind a push to build new large-scale nuclear reactors across the United States. The money is earmarked for utilities ordering long-lead equipment needed to construct Westinghouse AP1000 reactors, the same design that nearly bankrupted its maker less than a decade ago.
Seven utilities have already submitted letters of intent for the financing. The target: ten new reactors spread across five paired projects, which would represent the most ambitious expansion of American nuclear capacity in a generation.
The deal structure and what Washington gets in return
In exchange for the loans and an enhanced permitting process, the US government will secure 20% of Westinghouse’s cash distributions above the $17.5 billion threshold. Washington also stands to receive equity warrants tied to a potential Westinghouse IPO.
The loan package is part of a broader partnership announced for October 2025 that commits to $80 billion in new nuclear construction contracts involving Westinghouse, Brookfield Asset Management, and Cameco. The loans themselves are expected to be formalized around June 23-24, 2026.
