DOE Commits $17.5 Billion in Loans for Ten Westinghouse AP1000 Reactors
BAM•The DOE has conditionally committed $17.5 billion in loans to finance long-lead equipment for ten Westinghouse AP1000 nuclear reactors. The loans back Brookfield’s 51% Westinghouse stake and could accelerate reactor construction by three years, aiming for ten projects underway by 2030.
1. Financing Commitment
The U.S. Department of Energy’s Office of Energy Dominance Financing has conditionally committed $17.5 billion in American Supply Chain Loans to underwrite long-lead equipment purchases for up to ten Westinghouse AP1000 reactors in the U.S.
2. Project Acceleration and Scope
These loan facilities are structured to support eligible utility and energy partners in purchasing critical components, potentially accelerating commercial operation by up to three years and targeting ten reactors under construction by 2030, with up to five loans each covering two reactors.
3. Ownership Structure and Conditions
Westinghouse, co-owned 51% by Brookfield and 49% by Cameco, must satisfy specified technical, legal, environmental and financial conditions before DOE finalizes definitive financing documents and disburses funds.
