Cameco backs US-Korea framework for up to eight Westinghouse reactor builds in US
CCJ•Cameco acknowledged a non-binding US-Korea framework that anticipates $120 billion in Korean investment to finance up to eight Westinghouse reactor builds in the US, starting with two AP1000 units. The plan also includes up to two APR1400 reactors, subject to a waiver and other agreements and approvals.
1. Framework details
The framework is tied to Cameco’s October 2025 partnership and anticipates Korean investment of $120 billion to finance up to eight large reactors, beginning with two AP1000 units. It also includes up to two APR1400 reactors built on Westinghouse technology, contingent on a one-time waiver under a 2025 intellectual-property settlement; the waiver package is expected to deliver about $2 billion of value to Westinghouse per APR1400 reactor through licensing, services and fuel fabrication. Terms are non-binding and subject to definitive agreements, site selection, regulatory approvals, financing and final partnership documentation.
